Bitcoin and ether both experienced wild swings in the run-up to the SEC’s ETF decision on Thursday. ETH tumbled to $3,500 before surging to $3,900 as the first reports came through that approval of some filings was imminent. BTC, meanwhile, sank below $66,500, then spiked to $68,300 before settling just below $68,000. Liquidations across all leveraged crypto derivative positions soared to over $350 million during the day, the most since May 1, CoinGlass data shows. The bulk of the positions were longs betting on rising prices, worth roughly $250 million, suggesting that over-leveraged traders were caught off-guard by the sudden price plunge.
Related posts
-
Bitcoin, Ether Options Worth $10B Set to Expire on Friday
Please note that our privacy policy, terms of use, cookies, and do not sell my personal... -
Crypto Execution-Only Platform Crossover Markets Raises $12M
Illuminate Financial founder Mark Beeston will join Crossover’s board of directors. Existing investors include Flow Traders,... -
Ron Wyden on FISA Reform and Crypto
At home, the issue that I know, will present as the second word is bill, it...