Advertisement
AD

Main navigation

Advertisement

Bitcoin Price Reaches Yet Another 2023 High

Advertisement
Thu, 9/11/2023 - 5:24
Bitcoin Price Reaches Yet Another 2023 High
Cover image via www.freepik.com
Read U.TODAY on
Google News
Advertisement

Bitcoin has achieved a new high for the year 2023, touching $36,864 on the Bitstamp exchange earlier today. 

This surge marks a notable milestone in the cryptocurrency's recent rally, reflecting growing investor confidence due to the hype surrounding the seemingly imminent arrival of spot-based Bitcoin exchange-traded funds (ETFs). 

ETF approval odds remain sky-high

As reported by U.Today, James Seyffart of Bloomberg Intelligence cites a 90% chance of such approvals by Jan. 10 while hinting at a possible collective approval for current applicants. 

The SEC's pattern of delaying decisions for firms, including major players like BlackRock and Fidelity, suggests a strategic setup for a series of Bitcoin ETF launches following Grayscale's legal success. 

Advertisement

Related

Bitwise CIO Matt Hougan believes that it could be one of the most successful ETF launches ever. He expects it to attract massive inflows of over $50 billion in inflows within the first five years. 

Significant liquidations sweep the crypto market

The past 24 hours have been tumultuous for traders, with a total of 49,689 traders liquidated, resulting in $148.42 million in liquidations, according to Coinglass data.  

This volatility was not evenly spread across the market, as evidenced by the disproportionate number of short liquidations, which made up roughly 81.85% of total liquidations. 

Binance led the exchanges in terms of liquidation volume, followed closely by OKX, which also recorded the largest single liquidation order valued at $7.95 million. 

These liquidations once again showcase the high-risk nature of cryptocurrency trading. 

Related articles

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement
Advertisement

Recommended articles

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles

Advertisement
AD