Bitcoin (BTC) opened the trading week marginally higher, trading above $41,000. Ether (ETH) was also up slightly, trading above $2,100.

Data from Coinglass have been $103.5 million in liquidations of token-tracked futures in the past 12 hours, and $95 million of them have been longs, or bets on higher prices. Of the $103.5 million in total liquidations, $33 million in bitcoin positions were liquidated, with $29 million of those being long bitcoin positions.

Lucy Hu, a Senior Analyst with Hong Kong-based digital asset management firm Metalpha says the broader market continues to hold up quite well despite the recent Ledger hack with rate cuts on the horizon and things like ordinals driving more interest in bitcoin.

“The massive Ledger hack did swing some sentiment in the DeFi space and raises important questions on wallet security," she said in an email interview. “Besides, the stellar rise of Bitcoin Ordinals continues to fuel enthusiasm for Bitcoin miners, who have been heavily rewarded. We expect the long-term growth momentum of Bitcoin to remain on track."

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