Bitcoin, Ether in the Green as Global Easing Cycle Begins
The crypto market saw a positive start to the Asia trading day, with Bitcoin trading at $67,300, up 4.9% on a 24-hour basis, and Ether trading 4.7% higher above $3,400. This was attributed to BlackRock's entry into asset tokenisation and the start of the global central bank easing cycle. Over $100 million in leveraged futures positions were liquidated in the last 24 hours, including around $60 million in short Bitcoin positions and $42.8 million in short Ether positions. The Swiss National Bank unexpectedly cut the benchmark interest rate last week, initiating a global easing cycle. The Central Bank of Mexico also cut rates, and the Federal Reserve, the European Central Bank, and the Bank of England are preparing for liquidity easing in the coming months.
