Bitcoin Slumps as $400M Liquidated in Two Hours
Bitcoin slid 8% from a 20-month high on Wednesday as jitters around the anticipated approval of a spot BTC ETF began to enter the market.
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Bitcoin slid 8% from a 20-month high on Wednesday as jitters around the anticipated approval of a spot BTC ETF began to enter the market.
Saylor said in an earlier earnings call that he will use the proceedings to meet personal obligations and buy additional bitcoin to his personal account.
The decline happened as bitcoin spiked above $45,000 during the day as traders anticipate an imminent spot BTC ETF decision in the U.S.
The Mad Money Host three months ago was highly bearish on the world’s largest cryptocurrency.
The latest price moves in bitcoin [BTC] and crypto markets in context for Jan. 2, 2024. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.
Some investors have bought the “No side shares” of the prediction contract to hedge against potential delays in the SEC’s approval of spot ETFs.
U.S.-listed companies rode bitcoin’s bullish momentum to show significant gains in pre-market trading, including COIN, MSTR, MARA and RIOT.
Data tracked by Matrixport show global average perpetual funding rates rose to a record 66% annualized early Monday.
Speculation has been ramping up that regulatory approval for a U.S.-based spot bitcoin ETF is coming this week.
Bitcoin slipped below $42,000 on Friday, stalling below its yearly high.