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<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/central-bank-rate-cut-sparks-surge-in-bitcoin-and-ethereum-prices">Central Bank Rate Cut Sparks Surge in Bitcoin and Ethereum Prices</a><br></p>
<p style="text-align: justify">As the week commences, the <a href="https://en.bitcoinhaber.net/bitcoin-surges-above-68000-as-crypto-market-reacts-to-positive-economic-indicators">cryptocurrency</a> sector has observed a notable surge in the value of <a href="https://en.bitcoinhaber.net/bitcoin-charges-toward-60000-as-cryptocurrency-market-surges">Bitcoin</a> and <a href="https://en.bitcoinhaber.net/ethereums-vitalik-buterin-proposes-a-scalability-solution">Ethereum</a>. This upward momentum is linked to speculations of a potential global monetary easing period, triggered by the Swiss Central Bank’s recent decision to lower its interest rates. This pioneering move by the Swiss bank is seen as a catalyst for similar actions by other central banks worldwide.</p> 
<h2 id="swiss-policy-shift-excites-crypto-market">Swiss Policy Shift Excites Crypto Market</h2> 
<p style="text-align: justify">Following the Swiss Central Bank’s interest rate reduction, the crypto market has reacted positively, signaling a shift in the global financial landscape. The anticipation of a global relaxation in monetary policy has injected optimism among crypto investors, aligning with BlackRock’s foray into asset tokenization. The upbeat sentiment was evident in the Asian crypto market, which opened with gains.</p> 
<p style="text-align: justify">In the recent trading updates, Bitcoin, the premier digital currency, experienced a 4.9% climb, reaching a price of $67,300, while Ethereum, another leading digital asset, saw a 4.7% increase to trade above $3,450. Analyst Bradley Park of CryptoQuant ascribes these gains to the market’s favorable reaction to BlackRock’s BUIDL project, which targets Ethereum’s tokenization potential.</p> 
<h2 id="short-sellers-face-heavy-losses">Short Sellers Face Heavy Losses</h2> 
<p style="text-align: justify">The cryptocurrency market’s rise has resulted in significant losses for short-sellers. According to CoinGlass, over $100 million worth of leveraged futures positions were liquidated in the past day, with substantial losses in Bitcoin and Ethereum short positions. This market adjustment underscores the current bullish trend in the crypto space.</p> 
<p style="text-align: justify">Elsewhere, the pressure on Bitcoin sales from the Grayscale Bitcoin Trust has lessened, possibly contributing to Bitcoin’s price increase. Market analysts identify Genesis’s stake divestment as a factor in the heightened outflows from GBTC. Overall, macroeconomic indicators suggest a favorable outlook for continued growth in Bitcoin’s value, with central banks around the world reducing interest rates and facilitating liquidity expansion, potentially leading to new price peaks for Bitcoin.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/central-bank-rate-cut-sparks-surge-in-bitcoin-and-ethereum-prices">Central Bank Rate Cut Sparks Surge in Bitcoin and Ethereum Prices</a></h5>

Central Bank Rate Cut Sparks Surge in Bitcoin and Ethereum Prices

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