Cryptocurrency markets open in the green, CD20 rises 5%
The major cryptocurrencies were in the green at the start of the Asian business week, with the CD20 up 5%, CoinDesk reported. Part of this can be attributed to the start of the global easing cycle, with the Swiss National Bank becoming the first major central bank to cut interest rates. Bitcoin (BTC) is up 4.9% over the past 24 hours, trading at $67,300; Ethereum is up 4.7%, trading above $3,400. CoinDesk 20 (CD20) was up about 5% at press time. CryptoQuant analyst Bradley Park attributed the rise to the market digesting BlackRock’s BUIDL fund for tokenized products on Ethereum. Meanwhile, short sellers on Bitcoin and Ethereum suffered heavy losses. CoinGlass data shows that in the past 24 hours, more than $100 million in leveraged futures positions have been liquidated, of which approximately $60 million was short positions in Bitcoin and approximately $42.8 million was short positions in Ethereum.
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