Key Points:
- Cryptocurrency prices surged as investors bet on riskier assets amid expectations of interest rate cuts.
- Bitcoin surpassed $70,000 and held steady above that level, while Ethereum consolidated above $3,800.
- The rally triggered liquidations worth $97 million, with 62% of those being short liquidations.
- Bitcoin's open interest hit a new high of $37 billion, indicating fresh capital entering the market.
- More traders are taking bullish long positions on Bitcoin, with longs outnumbering shorts by a factor of 1.36.
- Analyst Insight: Rekt Capital highlights the $72,000-$73,000 resistance zone as a crucial hurdle for Bitcoin before it enters a "parabolic" phase.
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