India, May 7 -- Cryptocurrencies rallied in the past 24 hours as renewed hopes of a trade deal between the U.S. and China eclipsed fears of a hawkish Fed. Overall crypto market capitalization increased 2.8 percent while Bitcoin rallied to a high of $97,626 in the past 24 hours.
China's Vice Premier He Lifeng is expected to hold talks with U.S. Treasury Secretary Scott Bessent and chief trade negotiator Jamieson Greer in Switzerland on Saturday. The talks are aimed at breaking a trade deadlock between the two nations. Optimism surrounding a possible resolution of the trade-related disputes lifted crypto market sentiment.
Overall crypto market capitalization is currently at $3.01 trillion, implying an addition of 2.76 percent in the past 24...