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Bitcoin breaks through $47,000
First down, then up, both long and short positions explode
SEC issues supplemental comments on S-1 filing
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The recent quietness of Bitcoin has also affected the rise of most altcoins. Yesterday, the overall market experienced a widespread correction, causing some to doubt the confidence in Bitcoin ETF clearance. However, in the early morning today, Bitcoin once again broke through $47,000, restoring investors’ confidence.
However, the trend of first falling and then rising within 24 hours has caused both long and short positions in the market to explode. According to Coinglass data, the total liquidation amount on the entire network in the past 24 hours was about $283 million, with the ratio of long to short liquidations close to 1:1. Among them, most of the liquidations in mainstream coins were short positions, while most of the liquidations in altcoins were long positions.
As the approval of Bitcoin spot ETF enters a heated stage, the price volatility of Bitcoin will become more and more intense, and any relevant news may trigger sensitive nerves among investors. Less than an hour ago, Digital Chamber CEO Perianne posted that the SEC has just issued supplemental comments on the S-1 filing submitted by the Bitcoin spot ETF issuer, which may indicate that the issuer and the SEC have not yet reached a consensus and is 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 necessarily be a “delay signal” because the SEC issued supplemental comments within 24 hours of receiving the updated documents, which means that the SEC wants to resolve the issue as soon as possible. If the SEC really intends to delay, the issuer would not have received the comments that evening.
In any case, January 10th will be a crucial moment for the Bitcoin spot ETF decision. Regardless of the outcome, investors must be prepared for potential price fluctuations and keep an eye on important news.
(This article is authorized and reproduced from GT Radar.)
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