{"id":9585,"date":"2024-01-09T15:13:29","date_gmt":"2024-01-09T15:13:29","guid":{"rendered":"https:\/\/coinengineer.io\/blog\/?p=9585"},"modified":"2024-01-09T15:13:29","modified_gmt":"2024-01-09T15:13:29","slug":"bitcoin-etf-approval-expected-soon-bears-lost-100m","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/bitcoin-etf-approval-expected-soon-bears-lost-100m\/","title":{"rendered":"Bitcoin ETF Approval Expected Soon, Bears Lost $100M!"},"content":{"rendered":"

Those following the cryptocurrency markets, particularly Bitcoin futures, observed that approximately $155 million worth of short positions were liquidated in the last 24 hours after a sudden surge in prices during U.S. hours.<\/p>\n

Investors betting against higher Bitcoin (BTC) prices experienced losses of over $100 million in the last 24 hours, as expectations for the approval of a spot Bitcoin exchange-traded fund (ETF) in the U.S. approached the finish line.<\/p>\n

BTC prices rose up to 9% on Monday as they surpassed $47,000 for the first time since March 2022, resulting in some gains. Traders on the crypto exchange OKX incurred the highest losses, totaling $84 million, followed by Binance traders with $71 million in losses.<\/p>\n

The number of open positions or yet-to-be-settled futures contracts rose by over 8% in the last 24 hours, indicating that investors opened more positions after the liquidation event, expecting continued volatility.
\nLiquidation occurs when an exchange forcibly closes a trader’s leveraged position due to the trader not meeting the margin requirements (not having enough funds to keep the position open).<\/p>\n

\"Bitcoin<\/p>\n

Large liquidations can provide a signal of a significant local peak or bottom in price, allowing investors to position themselves accordingly.<\/p>\n

Such data is valuable for investors as it serves as a signal that leverage is effectively being wiped out from popular futures products, acting as an indication of a decrease in short-term volatility.<\/p>\n

You may notice:\u00a0Ripple CTO Schwartz, XRP Buyback Rumors<\/a><\/strong><\/em><\/p>\n

Monday’s market movements came as various potential issuers, from BlackRock (BLK) to Grayscale, submitted their fee proposals to the U.S. Securities and Exchange Commission (SEC); this signaled one of the final steps before the first Bitcoin ETF is publicly offered in the market.<\/p>\n

Thirteen proposed ETFs are awaiting SEC approval, and the competition for clients is already heating up; some issuers are not charging any fees for the first six months or requesting $5 billion in assets under management (AUM).<\/p>\n

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Also, you can freely share your thoughts and comments about the topic in the comment section. Additionally, please follow us on our\u00a0Telegram<\/strong>,\u00a0<\/a>YouTube<\/strong><\/a>\u00a0and\u00a0Twitter<\/strong><\/a>\u00a0channels for the latest news and updates.<\/em><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Those following the cryptocurrency markets, particularly Bitcoin futures, observed that approximately $155 million worth of short positions were liquidated in the last 24 hours after a sudden surge in prices during U.S. hours. Investors betting against higher Bitcoin (BTC) prices experienced losses of over $100 million in the last 24 hours, as expectations for the<\/p>\n","protected":false},"author":13,"featured_media":9586,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,2],"tags":[61,3560,2910],"class_list":["post-9585","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-news","tag-bitcoin","tag-bitcoin-etf-approval-expected-soon-bears-lost-100m","tag-liquidation"],"yoast_head":"\nBitcoin ETF Approval Expected Soon, Bears Lost $100M! - Coin Engineer<\/title>\n<meta name=\"description\" content=\"Following the sudden rise in the price of Bitcoin, a short position of approximately $155 million was liquidated in the last 24 hours.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/bitcoin-etf-approval-expected-soon-bears-lost-100m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin ETF Approval Expected Soon, Bears Lost $100M! 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