Crypto NewsAltcoinThe Sharp Rise in Bitcoin and Ethereum Upset the Bears! 340 Million...

The Sharp Rise in Bitcoin and Ethereum Upset the Bears! 340 Million Dollars Evaporated!

After the sharp rise in Bitcoin, Ethereum and altcoins, $340 million evaporated.

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This week has entered a critical week for Ethereum. While until yesterday it was more likely that the SEC would reject spot ETH ETFs, yesterday's news increased the possibility of approval.

Bloomberg senior ETF analysts stated that they revised the approval probability, which they had previously announced as 25 percent, to 75 percent, based on their X accounts.

This positive news from the USA was met with great enthusiasm in the cryptocurrency market, and there were significant increases in altcoins, especially Ethereum and Bitcoin.

First of all, due to the impact of the news, ETH experienced an impressive rise of more than 18% in the last 24 hours and reached $ 3,670.

BTC, on the other hand, rose above $ 70,000 again with a 6.2% increase and reached $ 71,240.

This rising wave initiated by the Ethereum ETF news also mobilized other altcoins besides ETH.

Accordingly, Lido DAO (LDO) ranks first with a 30% increase in the last 24 hours, while Pyth Network (PYTH) ranks second with a 25% increase; Bonk (BONK) ranked third with its 19% increase.

Ethena (ENA) 19.25%; Pendle (PENDLE) 18.4%; Arbitrum (ARB) 17.17%; Ethereum Classic (ETC) increased by 12.9%.

After the Sharp Rise in Bitcoin and Ethereum, $340 Million Evaporated!

While there were sharp increases in Bitcoin, Ethereum and altcoins, investors in short positions were left in reverse and liquidated.

At this point, according to data from CoinGlass, $340 million was liquidated in crypto futures in the last 24 hours. Of this, $263 million consisted of short positions and $77 million consisted of long positions.

Additionally, while 78,928 investors were liquidated in the last 24 hours, the largest liquidation took place in the ETH-USDT transaction on the Huobi exchange.

The largest liquidation occurred in ETH with $115 million, followed by Bitcoin with $99.9 million.

*This is not investment advice.

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