Bitcoin hovers around $74,000, buoyed by short liquidations and derivatives. Major cryptocurrencies like Ethereum and altcoins are also seeing gains. Traders are paying to maintain long positions above $73,000. All eyes are now on Federal Reserve Chair Jerome Powell’s upcoming speech. The global crypto market capitalization has increased. Investors are watching for potential breakouts.
Originally published by The Economic Times https://economictimes.indiatimes.com/markets