Bitcoin Surges Over $71K as Ether ETF Hopes Lead to $260M in Short Liquidations

surged over $71,000 early Tuesday, its highest since early April, as ether surged over 19% to $3,700 after Bloomberg analysts raised the probability that spot ETH exchange-traded fund gets approved in the U.S. to 75%.

The sudden move up caused over $260 million in market-wide short liquidations, the biggest since Feb.28. Ether shorts lost over $115 million, followed by bitcoin shorts at just over $99 million, Shorts are bets against higher price movements. Liquidation refers to when an exchange forcefully closes a trader's leveraged position due to a partial or total loss of the trader's initial margin. It happens when a trader is unable to meet the margin requirements for a leveraged position .

Coin Coin Latest News, Coin Coin Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

BTC Price Surges Above $59K as Spot Bitcoin ETF Outflows Ease UpCrypto Blog
Source: Crypto_Potato - 🏆 568. / 51 Read more »

Bitcoin short liquidation risk surges as BTC price dips under $64KBitcoin sees liquidity boosted after a swift BTC price decline and net ETF outflows.
Source: Cointelegraph - 🏆 562. / 51 Read more »

Bitcoin Price Surges Over 6% as 99Bitcoins Token Presale Raises $1.2MCrypto Blog
Source: Crypto_Potato - 🏆 568. / 51 Read more »

Smart Bitcoin Statement Issued by Michael Saylor as BTC Dumps 4.15%Prominent Bitcoin advocate Saylor has made smart Bitcoin statement, addressing his X community
Source: Utoday_en - 🏆 295. / 63 Read more »

Roger Ver Arrest Major Statement Made by Samson MowBitcoin maximalist Samson Mow has shared his take on recent arrest of Bitcoin OG Roger Ver
Source: Utoday_en - 🏆 295. / 63 Read more »

'Bitcoin Prize' Tweet Issued by Michael Saylor, Here's His Price HintProminent Bitcoin proponent Saylor has hinted at next Bitcoin price high to be reached soon
Source: Utoday_en - 🏆 295. / 63 Read more »