While Bitcoin Spot ETF approvals are thought to be a matter of time by experts, cryptocurrency investors are witnessing a sudden rise in the BTC price around this expectation.
BTC, which increased by almost 2,000 dollars in the last 24 hours and gained nearly 5% in value, rose sharply from the 45,000 dollar band with its movement in the last hour and exceeded the 46,000 dollar threshold. The $46,000 level was last observed in April 2022.
Similarly, there was a sudden increase in the Ethereum price by 2% in the last hour.
With the sudden movements, liquidations were also triggered in the cryptocurrency market. According to the data, approximately 38 million dollars of liquidation took place in the last hour of the sudden rise, and 37 million dollars of these were in short positions.
The leadership in liquidation amount was recorded in Bitcoin with 23.72 million dollars, followed by Ethereum with 8.29 million dollars, and then Solana with approximately 2 million dollars.
Interestingly, ORDI, one of the inscription-themed coins on the Bitcoin network, ranked fourth.
*This is not investment advice.