An unexpected surge in bullish momentum led to almost $447 million in liquidations of cryptocurrency shorts, with significant price increases in Bitcoin and Ethereum.
Crypto Shorts Liquidated
Approximately **$447 million in cryptocurrency shorts** were liquidated within 24 hours as bullish trends drove up prices in **Ethereum**, **Bitcoin**, Solana, and XRP.
Influence of Central Bank Comments
Comments from Federal Reserve Chair Jerome Powell regarding potential shifts in **monetary policy** catalyzed significant market changes. His statement highlighted economic stability, which may lead to increased volatility and potential price jumps in assets.
Market Outlook
The market activity reflected a **9% increase in Ethereum's price**, with Bitcoin also showing notable gains. Trading volume climbed **15% to $189.7 billion**. Analysts predict continued short-term volatility in line with expected **Federal Reserve rate cuts**.
In summary, recent short liquidations and central bank comments establish a backdrop for increased volatility in the cryptocurrency market that investors should watch closely.
