Optimism

James

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
The price of Bitcoin (BTC) <a href="https://www.tradingview.com/symbols/BTCUSDT/" rel="noopener noreferrer nofollow">soared</a> to a peak of $37,774 on the Bitstamp exchange earlier today.&nbsp;
This marks a significant increase of nearly 5% for the largest cryptocurrency by market capitalization.&nbsp;
This upward trend occurs amidst the backdrop of the U.S. Securities and Exchange Commission (SEC) delaying its decision on converting the Bitcoin futures ETF to a spot one.&nbsp;
<h2 id="optimism-persists-despite-etf-delays">Optimism persists despite ETF delays&nbsp;</h2>
Leading ETF analyst James Seyffart recently <a href="https://twitter.com/JSeyff/status/1724858905744867568" rel="noopener noreferrer nofollow">posted</a> on X about the SEC's delay in approving applications for three spot Bitcoin ETFs, including those from Hashdex, Franklin, and GlobalX.&nbsp;
These postponements appear to be expected, and Seyffart remains optimistic.&nbsp;
The leading analyst continues to cite a "pretty good chance" of approval with 90% odds by January 10, 2024.&nbsp;
He asserts that these delays should not be seen as deterrents to the high approval chances of a <a href="https://u.today/bitcoin-etf-hype-reemerges-as-global-x-amends-filing" rel="noopener noreferrer nofollow">Bitcoin ETF</a>.&nbsp;
<h2 id="a-closer-look-at-market-liquidations">A closer look at market liquidations&nbsp;</h2>
The past 24 hours have seen notable market movements with total liquidations amounting to $127.69 million, according to CoinGlass <a href="https://www.coinglass.com/LiquidationData" rel="noopener noreferrer nofollow">data</a>.&nbsp;
This includes $30.49 million in long positions and a significant $97.20 million in short positions.&nbsp;
Exchange-wise, <a href="https://u.today/crypto-exchange-binance-shares-new-feedback-roundup-details" rel="noopener noreferrer nofollow">Binance</a> faced $51.64 million in liquidations, with a 71.45% bias towards short positions.&nbsp;
Similarly, OKX experienced $37.49 million in liquidations, again predominantly in short positions (78.47%).&nbsp;

Bitcoin (BTC) Price Suddenly Surges Above $37,000 Despite SEC Delaying Spot ETF Decision

Table of Contents

U_Today

Other articles published on Nov 15, 2023

JPMorgan’s Ambitious Expansion with JPM Coin in Blockchain Transactions

JP Morgan adds new functionality for JPM Coin as Meme Moguls launches immersive ecosystem

SEC Filed a $5 Billion Lawsuit in 2023! Here are the institutions that were sued and the reasons!

BinaryX launches city building game Pancake Mayor on PancakeSwap’s new marketplace

Germany’s Second Largest Bank, Commerzbank, Obtains Crypto Custody License

Elon Musk's 'Game-Changer' Tweet Sparks Stormy Discussion in Crypto Community, Here's Deal

Join our free newsletter for daily crypto updates!