Bitcoin ETF Approval Expected Soon, Bears Lose $100M
Futures tracking crypto markets saw some $155 million in shorts liquidated in the past 24 hours after a sudden uptick in prices in U.S. hours.
Traders betting against higher bitcoin ($BTC ) prices lost over $100 million in the past 24 hours as expectations of a spot bitcoin exchange-traded fund (ETF) approval in the U.S. neared the finish line.
$BTC surged as high as 9% Monday, before giving back some gains, as prices jumped over $47,000 for the first time since March 2022. Traders on the crypto exchange $OKX took on the most losses at $84 million, followed by Binance at $71 million.
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