Bitcoin’s rally to nearly $28,000 this week was short-lived. On Thursday, the top crypto asset fell back to $26,300, which was roughly its level before the pump. This price dump has triggered $103.58 million in liquidations over the past 24 hours, including $3.12 million liquidation on Bybit. In total, over 34,700 traders were liquidated by the price drop.The collapse comes shortly after a brief rally for Bitcoin on Tuesday, when Grayscale confirmed a decisive victory over the SEC in court in its battle to launch a Bitcoin spot ETF. While Bloomberg analysts are confident the approval will happen, some still caution that the Federal Reserve’s tight monetary policy may keep prices sequestered for a while.Ether (ETH) has also declined 2.5% on the day to $1650, while XRP has fallen 3.28% to just $0.50. Grayscale’s GBTC shares have fallen by 3.43%, erasing some of their gains after the lawsuit win this week.

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Information	Details
Geography	Global
Countries
Sentiment	neutral
Relevance Score	8
People	None
Companies	Bloomberg, Grayscale, SEC, Federal Reserve, Bybit
Currencies	Ethereum, XRP, goBTC, Bitcoin
Securities	None