{"id":175343,"date":"2023-10-16T23:21:14","date_gmt":"2023-10-16T17:51:14","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=175343"},"modified":"2023-10-16T23:21:14","modified_gmt":"2023-10-16T17:51:14","slug":"bitcoin-liquidates-70m-of-short-positions-as-it-skyrocketed-to-29800-on-rumors-of-spot-etf-approval-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/bitcoin-liquidates-70m-of-short-positions-as-it-skyrocketed-to-29800-on-rumors-of-spot-etf-approval-crypto-news\/","title":{"rendered":"Bitcoin liquidates $70M of short positions as it skyrocketed to $29,800 on rumors of spot ETF approval &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<h2>Quick Take<\/h2>\n<p>The recent rumors of a spot ETF approval, as reported by <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/x.com\/Cointelegraph\/status\/1713908025520538079?s=20\">Cointelegraph<\/a>, have triggered a significant market reaction, with Bitcoin soaring as high as $29,800 over the past hour.<\/p>\n<p>This sudden surge has led to an influx of liquidations, amounting to approximately $81 million. Interestingly, the bulk of these liquidations, roughly $70 million, were short positions. This suggests that a considerable number of traders were caught off guard by the ETF news, leading to an abrupt market adjustment and a squeeze of short positions.<\/p>\n<figure id=\"attachment_365179\" aria-describedby=\"caption-attachment-365179\" style=\"width: 469px\" class=\"wp-caption aligncenter\"><figcaption id=\"caption-attachment-365179\" class=\"wp-caption-text\">Liquidations: (Source: Coinglass)<\/figcaption><\/figure>\n<p>The post <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cryptoslate.com\/insights\/bitcoin-liquidates-70m-of-short-positions-as-it-skyrocketed-to-29800-on-rumors-of-spot-etf-approval\/\">Bitcoin liquidates $70M of short positions as it skyrocketed to $29,800 on rumors of spot ETF approval<\/a> appeared first on <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cryptoslate.com\">CryptoSlate<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Quick Take The recent rumors of a spot ETF approval, as reported by Cointelegraph, have triggered a significant market reaction, with Bitcoin soaring as high as $29,800 over the past hour. This sudden surge has led to an influx of liquidations, amounting to approximately $81 million. Interestingly, the bulk of these liquidations, roughly $70 million, [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":175344,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-175343","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/175343","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=175343"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/175343\/revisions"}],"predecessor-version":[{"id":175345,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/175343\/revisions\/175345"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/175344"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=175343"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=175343"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=175343"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}