Bitcoin Surges Near $64,000 Amid Supportive Macro Conditions
Crypto markets have seen a rebound over the past 24 hours, but experts say it's not yet a confirmed trend reversal. According to Nischal Shetty, founder at WazirX, global macro conditions are becoming more supportive for crypto as reduced expectations of further Federal Reserve tightening weaken the dollar and lower short-term Treasury yields.
This improves liquidity conditions and investor appetite for Bitcoin and Ethereum. As of August 18, Bitcoin price hovered at $63,985.03, up 1.10 percent over the last 24 hours and down 0.14 percent in a week.
Riya Sehgal, Research Analyst at Delta Exchange, noted that derivatives activity increased, with 24-hour trading volume more than doubling and liquidations exceeding $200 million. Open interest rose only slightly, suggesting short covering and position unwinding drove part of the rebound rather than fresh leverage.