India, April 25 -- Cryptocurrencies slipped more than 4 percent in the past 24 hours as markets weighed the macro-economic risks to the interest rate environment as well as the continuing regulatory jitters. Renewed outflows from Bitcoin Spot ETF products also weighed on sentiment.
Concerns about interest rates remaining high for longer than expected continued to dampen market sentiment despite first quarter U.S. GDP growth declining to 1.6 percent, from 3.4 percent earlier and missing market expectations of a growth of 2.5 percent.
According to the CME FedWatch tool that tracks the expectations of interest rate traders, expectation that interest rates would continue at the same high level is 93.6 percent for the Fed review in May and 90....