Brish PTC Bet Loses $100 Million Ahead of Expected SEC Bitcoin ETF Approval

Traders who are betting against more bitcoin (BTC) Prices Over $100 million was lost Expectations of a spot bitcoin exchange-traded fund (ETF) approval in the US edged closer to the finish line in the past 24 hours.

BTC rose as much as 9% on Monday as prices rose above $47,000 for the first time since March 2022. Traders lost the most on crypto exchange OKX at $84 million, followed by Binance at $71 million.

Open interest, or the number of unsettled futures contracts, rose more than 8% in the past 24 hours as traders opened more bets after the liquidation event as they expected. Volatility will continue.

Trading refers to the forced closing of a trader's leveraged position due to a partial or total loss of the trader's initial margin. When a trader cannot meet the margin requirements for a leveraged position (insufficient funds to keep the trade open).

Large liquidations may signal the local top or bottom of a steep price move, which may allow traders to position themselves accordingly.

Such data is beneficial to traders as it acts as a signal to effectively remove foreign exchange from popular futures products – it acts as a short-term indication of price volatility.

Monday's Market Moves Potential issuers from BlackRock (BLK) to Grayscale filed their offering fees with the US Securities and Exchange Commission (SEC) on Monday, marking the first bitcoin exchange. to us

Thirteen proposed ETFs are awaiting SEC approval, and the battle for clients is already heating up — with some providers charging no fees for the first six months or charging $5 billion in assets under management (AUM).

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A final decision on approvals or denials is expected on Wednesday. Meanwhile, SEC officials are said to have sent comments to prospective issuers addressing minor details in the revised S-1 forms, a source familiar with the matter is expected to file Tuesday. told CoinDesk.

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