India, April 11 -- Cryptocurrencies surged ahead in the past 24 hours despite a hotter-than-expected consumer price inflation reading from the U.S. and caution about rate cuts sounded in the FOMC Minutes. Excitement over the looming Bitcoin halving event, expectation of Bitcoin Spot ETF approval by Hong Kong, the restoration of positive flows to Bitcoin Spot ETF products and the lower-than-expected uptick in producer price inflation in the U.S., all supported sentiment.
Meanwhile the ECB as widely expected, held rates steady but stressed on achieving its inflation target, amidst the threat of a divergence from the Federal Reserve's monetary policy outlook. The ECB noted that it would be appropriate to reduce the current level of monetary p...