BTC, ETH rise in sound trading to start the week

The main cryptocurrencies made cautious gains to start the weekwith BTC about 1.3% higher in 24 hours to just under $63,500. Ether outperformed bitcoin, rising 2.7% to $2,650, while the broader digital asset market rose just under 1.1%, as measured by the CoinDesk 20 Index. Data from CoinGlass shows that over the past 12 hours, slightly more short positions were liquidated than long positions, with $64.23 million in short positions and $54.42 million in long positions being liquidated. Trading is likely light following last week’s 50 basis point interest rate cut in the US BTC is up 9.5% over the past seven days while ETH is up over 16%.