{"id":159846,"date":"2024-01-09T12:18:37","date_gmt":"2024-01-09T12:18:37","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=159846"},"modified":"2024-01-09T12:18:40","modified_gmt":"2024-01-09T12:18:40","slug":"bears-lose-nearly-150m-as-they-liquidate-short-positions-expecting-bitcoin-etf-approval","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/bears-lose-nearly-150m-as-they-liquidate-short-positions-expecting-bitcoin-etf-approval\/","title":{"rendered":"Bears Lose Nearly $150M as They Liquidate Short Positions, Expecting Bitcoin ETF Approval"},"content":{"rendered":"
In a remarkable turn of events, bears<\/a> traders have reportedly<\/a> liquidated short positions worth nearly $150 million.<\/strong> This massive liquidation comes in anticipation of the approval of a Bitcoin Exchange-Traded Fund (ETF) by the U.S. Securities and Exchange Commission (SEC). The crypto market has been buzzing with anticipation as the SEC nears its decision to approve spot Bitcoin ETFs.\u00a0<\/span><\/p>\n The odds stand at a 95% probability of approval by January 10, 2024. This optimism is reflected in Bitcoin\u2019s price surge past $47,000, a first since March 2022. The latest market movements have triggered significant liquidations of short positions, which totaled more than $147 million.<\/strong> Crypto exchanges Binance and OKX saw massive liquidations, $72 million and $81 million respectively. At the same time, Huobi and Bybit lost approximately $20 Million each.<\/span><\/p>\n Short sellers were primarily impacted by the liquidations, incurring losses exceeding $147 million within 24 hours. This marked the second-highest volume of short liquidations in a single day since mid-November. Bitcoin<\/a> traders experienced substantial liquidations amounting to $36 million, predominantly impacting those who had established short positions.<\/span><\/p>\nMonday’s Development Has Set the Market’s Mood for Bears<\/span><\/h2>\n
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