Fresh data illustrates a surge in long liquidations across various exchanges following the approval of Ethereum ETFs, sparking a sell-off in the market.<\/p>\n
The US SEC recently granted approval for all eight Ethereum spot exchange-traded funds (ETFs), which stirred up anticipation and trading activity in the market. These ETFs offer a way for traditional investors to gain exposure to ETH’s price movements without directly owning the cryptocurrency.<\/p>\n
Similar to the reaction following the Bitcoin spot ETF approval, the market witnessed selling pressure after the news of Ethereum ETF approval surfaced. This triggered a downturn in Ethereum’s price alongside other cryptocurrencies in the space.<\/p>\n
Despite the recent dip, Ethereum remains up by over 23% in the past week, with the current price standing at $3,700, ensuring investors still hold significant profits.<\/p>\n
The market response to the ETF approval led to sizeable liquidations in the derivatives sector, reflecting an unexpected turn of events in the past 24 hours.<\/p>\n
Data sourced from CoinGlass highlights a substantial liquidation event in the cryptocurrency derivatives market over the previous day, with more than $384 million worth of contracts forcefully closed. Long holders accounted for over $297 million of these liquidations, constituting about 77% of the total liquidation volume.<\/p>\n
With Ethereum as the primary focus of the recent market activity, it emerged as the leading contributor to these massive liquidations, surpassing Bitcoin by a considerable margin.<\/p>\n","protected":false},"excerpt":{"rendered":"
Fresh data illustrates a surge in long liquidations across various exchanges following the approval of Ethereum ETFs, sparking a sell-off in the market. Setback in Ethereum Price Post Spot ETF Approval The US SEC recently granted approval for all eight Ethereum spot exchange-traded funds (ETFs), which stirred up anticipation and trading activity in the market. […]<\/p>\n","protected":false},"author":1,"featured_media":12363,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"slim_seo":{"title":"Massive Liquidations Sweep $300 Million in Crypto Longs Post Ethereum ETF Approval - Bitrabo","description":"Fresh data illustrates a surge in long liquidations across various exchanges following the approval of Ethereum ETFs, sparking a sell-off in the market. Setback"},"footnotes":""},"categories":[316],"tags":[504,1923,768,2655,464,2552,561,522,1209],"class_list":["post-12362","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-crypto","tag-etf","tag-ethereum","tag-flushed","tag-investors","tag-longs","tag-million","tag-news","tag-sell"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/12362","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/comments?post=12362"}],"version-history":[{"count":0,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/12362\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media\/12363"}],"wp:attachment":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media?parent=12362"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/categories?post=12362"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/tags?post=12362"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}