• About
  • Contact
  • Privacy Policy
  • Terms and Conditions
Monday, June 2, 2025
The VR Soldier
  • Featured
  • News
  • Education
  • NEAR Protocol
  • Solana
  • Fantom
  • Yield Farming
  • Reviews
  • Press Releases
No Result
View All Result
  • Featured
  • News
  • Education
  • NEAR Protocol
  • Solana
  • Fantom
  • Yield Farming
  • Reviews
  • Press Releases
No Result
View All Result
The VR Soldier
No Result
View All Result

Over $30M In Bitcoin Short Liquidation Recorded In 30 Mins After Grayscale News

Will Izuchukwu by Will Izuchukwu
August 30, 2023
in News
Reading Time: 3 mins read
0
Share on TwitterShare on Facebook

The news of Grayscale winning their lawsuit against the SEC was a major victory for the cryptocurrency community and sent shockwaves through the market. In the 30 minutes following the announcement, over $30 million in Bitcoin short liquidations were recorded. This means that traders who had bet that the price of Bitcoin would go down were forced to close their positions at a loss.

Source: CoinGlass

Positive Sentiment Around The Lawsuit Victory

The liquidations were likely caused by a combination of factors, including the positive sentiment surrounding the lawsuit victory, the technical strength of the Bitcoin market, and the fear of missing out (FOMO) among traders. The lawsuit victory was seen as a major step forward for the legitimization of Bitcoin and the cryptocurrency industry as a whole. It also raised hopes that the SEC would eventually approve a Bitcoin ETF, which would make it easier for investors to access the cryptocurrency.

Bitcoin’s Technical Strength

The technical strength of the Bitcoin market was also a factor in the liquidations. Bitcoin had been in a strong uptrend in the weeks leading up to the lawsuit victory, and the price was up to $28,000. This made it difficult for short traders to maintain their positions, as they were essentially betting against the trend. Finally, the fear of missing out (FOMO) likely played a role in the liquidations. As the price of Bitcoin continued to rise, more and more traders may have been eager to get involved, even if it meant closing their short positions at a loss.

Final Thoughts

The liquidations of over $30 million in Bitcoin shorts is a significant event and shows the power of positive news and sentiment in the cryptocurrency market. It remains to be seen whether the SEC will approve a Bitcoin ETF in the near future, but the lawsuit victory is a major step in that direction.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any service.

Follow us on Twitter @thevrsoldier to stay updated with the latest Crypto, NFT, and Metaverse news!

Image Source: nexusplexus/123RF// Image Effects by Colorcinch

Tags: BearbitcoinBTCBullCryptoETFLiquidationSEC
Previous Post

10-10K Bitcoin Wallets Accumulated $388.3M Worth Of Bitcoin Before The Recent Price Increase

Next Post

Bitcoin Cash (BCH) Rebounds As Influenced By Whale’s Movement

Related Posts

Binance Beats SEC—Crypto Cheers the Legal Victory
News

Binance Beats SEC—Crypto Cheers the Legal Victory

June 2, 2025
Cardano Tanks 50% From Highs—Hope or Hype Ahead
News

Cardano Tanks 50% From Highs—Hope or Hype Ahead

June 1, 2025
Solana Price Prediction:Is the $200 Dream Dead
News

Solana Price Prediction:Is the $200 Dream Dead?

May 31, 2025
Featured

Netflix Casts Leads for FTX Drama

May 30, 2025
Featured

Trump’s Meme Coin Dinner Under Investigation

May 29, 2025
Altseason Is Here—But Only for a Few Minutes
News

Altseason Is Here—But Only for a Few Minutes

May 28, 2025

Press Releases

Binance Beats SEC—Crypto Cheers the Legal Victory
News

Binance Beats SEC—Crypto Cheers the Legal Victory

by Alex Mercer
June 2, 2025

Introduction From courtroom drama to crypto karma, Binance is having a moment. The SEC has officially pulled the plug on...

Read more
Bitcoin Gains Ground as Job Market Wobbles—Digital Gold to the Rescue?

Bitcoin Gains Ground as Job Market Wobbles—Digital Gold to the Rescue?

May 25, 2025
Altcoin Season Is Loading—But First, Let Bitcoin Do Its Thing

Altcoin Season Is Loading—But First, Let Bitcoin Do Its Thing

May 23, 2025
Dogecoin’s Ready to Bark Again—Could $0.30 Be the Next Fetch?

Dogecoin Ready to Bark Again—Could $0.30 Be Next

May 20, 2025
Ethereum Climbs While PEPE Reloads—Who's About to Explode

Ethereum Climbs While PEPE Reloads—Who’s About to Explode?

May 18, 2025
The VR Soldier

© 2024 The VR Soldier

Navigate Site

  • About
  • Contact
  • Privacy Policy
  • Terms and Conditions

Follow Us

No Result
View All Result
  • Featured
  • News
  • Education
  • NEAR Protocol
  • Solana
  • Fantom
  • Yield Farming
  • Reviews
  • Press Releases

© 2024 The VR Soldier