Massive Liquidations as Crypto Shorts Lose $155 Million in 24 Hours
Futures tracking crypto markets saw some $155 million in shorts liquidated in the past 24 hours after a sudden uptick in prices in U.S. hours. Traders betting against higher bitcoin prices lost over $100 million. The liquidations occurred as expectations of a spot bitcoin exchange-traded fund approval in the U.S. neared, with BTC surging as high as 9% on Monday. Potential ETF issuers like BlackRock and Grayscale filed their offering fees to the SEC on Monday, marking one of the final steps before the first-ever bitcoin ETF can be floated in the U.S. Thirteen proposed ETFs are awaiting SEC approval.
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00:00 It's Benzinga and here's what's on the block.
00:02 Futures track in crypto markets saw some $155 million in shorts liquidated in the past 24
00:07 hours after a sudden uptick in prices in US hours. Traders betting against higher
00:11 Bitcoin prices lost over $100 million. The liquidations occurred as expectations of a
00:16 spot Bitcoin exchange-traded ETF fund approval in the US neared, with BTC surging as high as 9%
00:22 on Monday. Potential ETF issuers like BlackRock and Grayscale filed their offering fees to the SEC
00:27 on Monday, marking one of the final steps before the first-ever Bitcoin ETF can be floated in the
00:32 US. Thirteen proposed ETFs are awaiting SEC approval and a final decision on the ETF approvals
00:37 or denials is expected on Wednesday from the SEC. For all things money visit Benzinga.com