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Bitcoin Breaks $47,000
First Fall, Then Rise, Long and Short Positions Both Explode
SEC Issues Supplemental Comments on S-1 Document
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The recent quietness of Bitcoin, along with the impact on the majority of altcoins, led to a widespread market correction yesterday, even shaking the confidence of some in Bitcoin ETF passage. However, in the early hours of today, Bitcoin once again broke through $47,000, reigniting investors’ confidence.
However, the trend of falling first and then rising within 24 hours has also resulted in a phenomenon of both long and short positions exploding in the market. According to Coinglass data, approximately $283 million was liquidated across the network in the past 24 hours, with the long and short liquidation ratio close to 1:1. Most of the liquidations in mainstream coins were short positions, while most of the liquidations in altcoins were long positions.
With the approval of Bitcoin spot ETF entering a heated stage, the price fluctuations of Bitcoin will become more and more intense, and any related news may trigger sensitive nerves of investors. Less than an hour ago, Digital Chamber CEO Perianne pointed out in a post that the SEC had just issued supplemental comments on the S-1 document submitted by the issuer of the Bitcoin spot ETF, which may indicate that the issuer and the SEC have not yet reached a consensus, posing a potential “delay signal.” This news also caused the Bitcoin price to drop nearly $1,000 from the $47,000 high.
However, Bloomberg analyst James Seyffart believes that this may not necessarily be a “delay signal,” as the SEC issued supplemental comments within 24 hours of receiving the updated document, indicating that the SEC wants to resolve the issues as quickly as possible. If the SEC truly intended to delay, the issuer would not have received comments on the same night.
Regardless, January 10 will be a crucial moment for the Bitcoin spot ETF, and investors must be prepared for potential price fluctuations before the results are announced, and always pay attention to important news.
(This article is authorized for reposting from GT Radar.)
About GT Radar
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With “multi-strategy automatic following architecture” as the technical core, it assists investors in automatic trading and management through diversified strategies. Effectively reducing trading risks, enhancing investment returns; avoiding chasing highs and killing lows, cultivating trading discipline, achieving true rational investment, and professional trading.
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