India, April 16 -- Crypto market sentiment has been dampened further by the escalation in trade tensions between the U.S. and China. Overall crypto market capitalization slipped more than 2.5 percent in the past 24 hours even as markets digested the fresh tariffs imposed by the U.S. on China, the updated U.S. rules on exports of high-end AI chips to China and China's decision to halt deliveries of Boeing jets. A recent report by Coinbase that hinted at a potential bear market for cryptocurrencies also weighed on market sentiment.
In its monthly outlook, Coinbase has pointed out that the total market capitalization (ex-BTC) has seen a steep 41-percent decline from its December 2024 high of $1.6 trillion to $950 billion as of mid-April, whil...