Key Points:
Over $150 million in positions were liquidated in the past 24 hours, mostly due to short positions, according to Coinglass data. Of the total liquidation amount, the liquidation of short positions accounted for approximately $113 million.
The world’s largest cryptocurrency exchange, Binance, had the most liquidation at $67.35 million, followed by OKX with $58 million.
Bitcoin has remained strong in the eye of proposals for Bitcoin spot ETF approval from significant companies such as Wisdom Tree, which follows asset management firm BlackRock. At the time of writing, BTC is trading at $30,155.
In addition to BlackRock’s recent announcement of a Bitcoin ETF, Invesco has filed a similar application. Meanwhile, Deutsche Bank said on Tuesday that it has filed for a digital asset custody license in Germany. On the same day, crypto exchange EDX Markets, which garnered investment from financial giants such as Charles Schwab, Citadel Securities, and Fidelity Digital Assets, began enabling trading using BTC and Ethereum (ETH). With such events, it is very likely that the $32,000 price zone will be the next challenge for BTC to conquer.
These acts represent a substantial shift in the industry’s perception of cryptocurrency and have played a fundamental part in nurturing the large capital flood into the crypto market. Around $100 billion has entered the market as of June 21, 2023, demonstrating the rising belief in the tremendous potential of digital assets.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Harold
Coincu News
Bitcoin Spot ETF Inflows have reached $510 million as of November 13, marking six consecutive…
Solana DEX trading volume reached historic highs, exceeding $5 billion daily for three days. Raydium…
Phantom iOS users are warned that a recent app update caused some users to log…
Japanese crypto exchange Coincheck is set to become the first Japanese crypto exchange to list…
The US DOJ investigates Polymarket for Alleged Illegal US User Bets Polymarket, for allegedly permitting…
Ethereum’s ICO was priced at around $0.30 per token, and today, it’s valued in the…
This website uses cookies.