India, April 7 -- Cryptocurrencies are trading with heavy overnight losses in tandem with the sentiment in global equity and commodity markets. The trade-driven rout in global markets is attributed to concerns about a global recession as well as a spike in inflationary pressures.
Overall crypto market capitalization has slipped close to 5.5 percent in the past 24 hours. It is currently at $2.48 trillion, rising from the 24-hour low of $2.35 trillion. Only less than 10 percent of the top 100 cryptocurrencies are trading with overnight gains of more than a percent.
The CMC Crypto Fear and Greed Index, a proprietary tool developed by CoinMarketCap to measure the emotional state of the cryptocurrency market is currently at 17 denoting "extrem...