India, May 19 -- Cryptocurrencies are trading in the red in the aftermath of U.S. credit rating agency Moody's downgrading the sovereign credit rating of the U.S. The downward movement in crypto prices comes amidst a spike in bond yields and a surge in safe-haven demand for gold.
Overall crypto market capitalization has slipped 1.7 percent in the past 24 hours. It is currently at $3.3 trillion. The 24-hour trading volume has increased more than 67 percent overnight to $155 billion.
Around 85 percent of the top 100 cryptocurrencies are trading with overnight losses of more than a percent.
Bitcoin declined 0.28 percent overnight to trade at $105,160. It is currently trading 4 percent below the all-time-high at $109,114 recorded on January ...