Bitcoin Surges Over $71K as Ether ETF Hopes Lead to $260M in Short Liquidations
Summary
Bitcoin surged to over $71,000, while ether rose to $3,700 after Bloomberg analysts raised the probability of a spot ETH exchange-traded fund (ETF) approval in the U.S. to 75%. This caused over $260 million in market-wide short liquidations, with Binance leading at $130 million. The SEC asked aspiring ether ETF exchanges to update filings, and market participants anticipate bullish outcomes if approved. The spot bitcoin ETF has attracted $12 billion in total inflows, and some traders expect further ether price increases.
