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Bitcoin Breaks $47,000
First Falling, then Rising – Bulls and Bears Both Suffer
SEC Issues Supplementary Comments on S-1 Document
The recent silence of Bitcoin has affected the rise of most altcoins. Yesterday, the overall market experienced a widespread correction, causing some to lose confidence in Bitcoin ETF approval. However, early this morning, Bitcoin surged past $47,000, restoring investors’ confidence.
However, the 24-hour trend of falling and then rising has led to a phenomenon of both bulls and bears suffering losses in the market. According to data from Coinglass, the total liquidation on the entire network in the past 24 hours amounted to approximately $283 million, with the ratio of liquidations between bulls and bears being close to 1:1. Among them, most of the liquidations in mainstream coins were shorts, while most of the liquidations in altcoins were longs.
As the approval of Bitcoin spot ETF enters a heated phase, the price volatility of Bitcoin will become more intense, and any related news may trigger sensitive nerves among investors. Less than an hour ago, Digital Chamber CEO Perianne tweeted that the SEC had just issued supplementary comments on the S-1 document submitted by the Bitcoin spot ETF issuer, which may indicate that the issuer and the SEC have not yet reached a consensus, and it could be a potential “delay signal.” This news also caused the Bitcoin price to drop nearly $1,000 from its high of $47,000.
However, Bloomberg analyst James Seyffart believes that this may not be a “delay signal” because the SEC issued supplementary comments within 24 hours of receiving the updated document, indicating that the SEC wants to resolve the issue as quickly as possible. If the SEC really intended to delay, the issuer would not have received comments on the same night.
Regardless, January 10th will be the decisive moment for Bitcoin spot ETF. Regardless of the outcome, investors must be prepared for potential price volatility and stay vigilant for important news.
