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Bitcoin Tops $27K as Rates and Oil Retreat; Ether Outperforms on ETF Hopes

Cryptocurrency markets surged higher Thursday, with the price of bitcoin (BTC) breaking above the $27,000 level alongside easing macro pressures. BTC earlier rose to just shy of $27,300 and was trading at $27,010 at press time, up 3.2% over the past 24 hours. COMP, AAVE and MKR, governance tokens of top DeFi lending platforms Compound, Aave, and Maker, enjoyed 21%, 10% and 5% gains, respectively. Ethereum scaling network Arbitrum’s ARB posted a 9.6% rally, recovering losses from earlier this month. Crypto derivatives traders brace for Friday’s quarterly and monthly options expiry, when some $4.8 billion worth of BTC and ETH options will expire on key derivatives exchange Deribit.

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