Crypto market rallied, with bitcoin and ether gaining over 3%, as traders shake off FTX and move their focus towards macroeconomic conditions. By thesamreynolds
"This is the main trigger in the increase in prices," Raphael Kim, the founder of Seoul-based crypto VC Reframe told CoinDesk. Kim said that the lower-than-expected CPI was a relief to many traders, who are building a post-FTX investment narrative.
were up during the Asia afternoon trading session, in particular, layer 1 tokens such as Avalanche up 7% to $13.94, and Cosmos up 6.9% to $9.92.shows that traders which held short positions have faced immense liquidation pressure over the last 24 hours. In total, $119.51 million in positions have been liquidated, with 83% of them being shorts.
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