India, April 21 -- Crypto market capitalization increased more than a percent in the past 24 hours even as world markets focused on the geopolitical situation in the Middle East. An unwinding of bearish bets on expectations of U.S.-Iran peace talks and reopening of the Strait of Hormuz, resulted in a short squeeze, lifting cryptocurrency prices. Sentiment remains largely positive amidst continuing inflows to Spot ETF products. The upcoming Congressional confirmation hearing for Federal Reserve chair nominee Kevin Warsh, the uptick in Wall Street futures as well as the steady crude oil prices also supported crypto market sentiment.
The 24-hour liquidation statistics from Coinglass shows short positions surpassing long positions by more than...