Bitcoin Jumps to $30K, Then Dumps, as False Spot ETF Approval Report Circulates

CoinDesk reported:

CoinGlass data shows that $81 million worth of short positions, or bets against higher prices, were liquidated on the move to $30,000, and $31 million in longs, or bets on higher prices, were liquidated during the correction. 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 (fails to have sufficient funds to keep the trade open).

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