India, April 22 -- The relief rally in crypto markets that followed President Trump extending the ceasefire with Iran has lifted cryptocurrency market capitalization more than 3 percent in the past 24 hours. Bitcoin touched a 24-hour high of $79,077 whereas Ethereum has touched a high of $2,423 during the same period.
The 24-hour liquidation statistics from Coinglass shows short positions surpassing long positions. Crypto liquidations - forced closure of a trader's leveraged position by an exchange or lending protocol for insufficient funds (margin or collateral) to cover potential losses - in the past 24 hours stood at $428 million comprising long positions of $116 million and short positions of $311 million.
With global market sentiment...