India, Feb. 28 -- Cryptocurrencies tumbled and Bitcoin dropped to a little above $78k as renewed trade tariff jitters dampened sentiment towards risk assets. Though gold, crude oil, tech stocks, all declined, the slippage was most pronounced in the case of digital assets. Anxiety ahead of the release of the PCE-based inflation readings from the U.S. due on Friday morning also weighed on market sentiment.
Amidst the crypto selloff, overall crypto market capitalization dropped to a low of $2.63 trillion before recovering to its current level of $2.66 trillion, implying an overnight loss of more than 6.5 percent. More than 90 percent of the top 100 cryptocurrencies are trading with overnight losses of more than a percent.
Crypto market senti...