The crypto market fell today. After Bitcoin’s rapid correction, Ether and various altcoins, with Bitcoin falling 10% and nearly erasing all of its gains in 2024 before returning to near $42,700.
Report a Suspicious Bitcoin ETF
Investors’ beliefs that The U.S. Securities and Exchange Commission (SEC) was able to approve one of 14 outstanding Spot Bitcoin ETF applications in early January, sending BTC prices soaring to more than $45,000.
But on January 3, a report was published by a financial services platform confirming that the US SEC plans to reject all Spot Bitcoin ETFs. Within an hour of the report being published, the crypto market plummeted.
Settlement of long side futures across crypto markets.
The decline of major cryptocurrencies This causes rapid liquidation in the derivatives market. This is regardless of whether the report caused an error or not. But traders were caught off guard, leading to a quick liquidation of the long side.
in the last 24 hours More than $577.7 million in long-side liquidations in the crypto market
This sharp drop in prices serves as a reminder that Volatility can return to the market at any time.
refer : cointelegraph.com
picture forbes.com
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