A US court has sided with Grayscale in its battle against the SEC, causing Bitcoin and the rest of the crypto market to surge. This volatility caused massive losses for over-leveraged traders, with liquidated short positions reaching $80 million within an hour.The court’s decision means that the SEC is now obligated to review Grayscale’s request to turn its flagship Bitcoin Trust into a spot exchange-traded fund. Although this doesn’t guarantee approval, it had a huge effect on BTC’s price, which jumped from around $26,000 to almost $28,000. Other altcoins also saw significant gains, with BNB, SOL, MATIC, TONCOIN, LTC, BCH, AVAX, and XLM rising by between 5% and 10%.According to CoinGlass, this has resulted in a large number of liquidations over the past hour, with the total value reaching $85 million. Short positions accounted for 90% of this amount, with BTC’s share being the largest at over $40 million.
This News Article was automatically generated by Bob the Bot(AI)
This News Article was automatically generated by Bob the Bot(AI)
| Information | Details |
|---|---|
| Geography | Global |
| Countries | |
| Sentiment | neutral |
| Relevance Score | 10 |
| People | None |
| Companies | CoinGlass, PrimeXBT, Grayscale, None, Binance, SEC |
| Currencies | Binance Coin, Litecoin, Bitcoin, Bitcoin Cash, toncoin, Avalanche, Solana, Polygon, Stellar |
| Securities | None |
