The U.S. Securities and Exchange Commission (SEC) recently delayed decisions on all Bitcoin (BTC) Exchange Traded Fund (ETF) applications until October. This caused a market-wide pullback, resulting in $130 million in liquidations over the last 24 hours.Prominent firms, such as BlackRock, Valkyrie, WisdomTree, Invesco Galaxy, Bitwise, and Wise Origin, had their applications delayed. Bloomberg analysts Eric Balchunas and James Seyffart had predicted the SEC’s inclination to defer applications while deliberating on its next move. Despite the delay, the analysts maintain a positive outlook, suggesting that the chances of ETF approval have climbed to a promising 75%.Following news of the delay, Bitcoin dropped by approximately 5%, pushing its valuation below the $26,000 mark. BTC was trading for $25,976 as of press time. The broader cryptocurrency market witnessed a nearly 4% decline, collectively amounting to a total market capitalization of $1.05 trillion.These price actions resulted in $130 million worth of liquidations that majorly affected long traders. BTC and Ethereum (ETH) accounted for nearly $80 million of these positions, while traders with positions in assets like BNB, XRP, Bitcoin Cash, Solana, and others recorded millions in losses. The most significant single-order liquidation was a long BTCUSD position valued at $3.12 million on ByBit. Across exchanges, OKX and Binance accounted for more than 60% of the total liquidations.

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Information	Details
Geography	North America
Countries
Sentiment	neutral
Relevance Score	8
People	James Seyffart, Eric Balchunas
Companies	Bitwise, Valkyrie, SEC, WisdomTree, Invesco Galaxy, Wise Origin, BlackRock
Currencies	Ethereum, XRP, Bitcoin, BNB
Securities	None