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Cryptocurrency markets were trading lower in Thursday's trade, dragged by Bitcoin, Solana, and Dogecoin. Meanwhile, the global cryptocurrency market cap declined 0.7% to around $2.48 trillion in the last 24 hours.
Shashi Tharoor, former Minister of State for HRD and External Affairs and Congress candidate for the Thiruvananthapuram Lok Sabha seat in the 2024 general election, disclosed in his nomination affidavit that he holds a Bitcoin ETF in his portfolio.
Major crypto tokens traded mixed with a negative bias on Wednesday. Bitcoin, Ethereum, BNB, XRP, Dogecoin, Cardano, and Toncoin were trading in the red, while Solana, Shiba Inu, Chainlink, Internet Computer, Litecoin, and NEAR Protocol were trading in the green.
Daily figures on the level of demand for these spot-Bitcoin ETFs propagate across the crypto market in Asian hours following the close of US share trading. On Tuesday, the digital asset embarked on its worst drop in a month in the Asian morning as the flows numbers pointed to investors pulling money out.
The latest U.S. inflation data was "along the lines of what we would like to see," Federal Reserve Chair Jerome Powell said, keeping alive hopes that the central bank will start cutting interest rates in June.