India, May 5 -- Cryptocurrencies mostly traded on a negative note as concerns about the resolution of the trade dispute between China and the U.S. weighed heavily on sentiment. Anxiety ahead of the Fed's interest rate decision on Wednesday also contributed to the weak sentiment.
Fading Fed rate cut hopes following the solid jobs data on Friday also dampened market sentiment. The CME FedWatch tool that tracks the expectations of interest rate traders currently shows the likelihood of a pause by the Fed on Wednesday at 99 percent. It was 97.2 percent a day ago and 92.9 percent a week ago.
Overall crypto market capitalization has declined 1.5 percent in the past 24 hours. It is currently at $2.93 trillion. The 24-hour trading volume increase...