NVDA - Bitcoin Dogecoin Dip Ethereum Shows Momentum On Approval Of Ether Spot ETFs Analyst Expresses Confidence In King Crypto's Rebound | Benzinga
The cryptocurrency market reacted mixed to the SEC approving the first ever Ethereum (CRYPTO: ETH) spot ETFs in the U.S.
What Happened: The second-largest cryptocurrency, Ethereum, which has been at the center of immense media coverage this week, was trading sideways, while Bitcoin and Dogecoin faced selling pressure.
Around $366 million locked in futures positions was liquidated in the last 24 hours, with longs accounting for 72% of the total. Ethereum recorded $140 million in liquidations, the highest in the period.
Bitcoin's plunge eroded optimism in the futures market, as its Open Interest fell 2.49% in the last 24 hours. Ethereum's Open Interest rose marginally by 0.76%.
In the past 24 hours, more than 61,000 traders were liquidated, with the total liquidation surpassing $156 million. Ethereum led the pack with around $42.85 million in liquidations.
In things that escalated quickly this week, the SEC greenlighted spot Ether ETFs earlier in the day, paving the way for traditional investors to bet on the spot prices of the asset.
The Cryptocurrency Fear & Greed ...