Price fluctuations after a A series of false tweets From the US Securities and Exchange Commission’s (SEC) Account
Pirates X’s SEC account was seized On Tuesday, she used it to post her approval of the long-awaited bitcoin exchange-traded fund (ETF) decision. She later posted “$BTC,” before both tweets were promptly deleted.
These tweets caused Bitcoin prices to immediately rise to $47,680 from $46,800. It then dropped to $45,400 after the tweets turned out to be fake.
However, gamblers and automated bots quickly reacted to the tweets. Over $500 million worth of futures positions were opened in the ten-minute period after the initial publication, Show data. But the highly leveraged positions took a hit as prices fell: about $50 million of long trades were liquidated while $36 million of short trades were affected.
Liquidation refers to the exchange forcibly closing a leveraged trader’s position due to partial or total loss of the trader’s initial margin. This occurs when a trader is unable to meet the margin requirements for a leveraged position (failing to obtain sufficient funds to keep the trade open).
Such data is useful to traders because it serves as an indication that leverage is effectively being eliminated from popular futures products – acting as a short-term indicator of declining price volatility.
A decision on thirteen proposed bitcoin ETFs is expected on Wednesday, according to Bloomberg analysts Put your odds of approval at over 90% And bettors in the cryptocurrency market are relatively smaller at 85%.
Meanwhile, some cryptocurrency market participants criticized the SEC’s seemingly lax security measures to protect its account — even questioning how the financial regulator could protect trillion-dollar markets if… Her social accounts cannot be protected.