BTC Breaks $45,000 Barrier After Sideways Trading
After days of trading sideways around and below $44,000, Bitcoin (BTC) made a strong move and surpassed the $45,000 mark. This is the first time BTC has reached this level since the crash last week.
BlackRock Announces Fees for Bitcoin ETFs
BlackRock, along with other major financial institutions seeking approval for Bitcoin exchange-traded funds (ETFs), has revealed the fees it will charge if its products are launched. This news coincided with BTC’s surge above $45,000.
BTC Hits Nearly $46,000 Before SEC Rumors Cause Drop
Bitcoin started the year on a high note, reaching almost $46,000, its highest price in nearly two years. However, the cryptocurrency experienced a sharp decline of over $4,000 following reports that the U.S. Securities and Exchange Commission (SEC) plans to reject all ETF applications in the coming weeks.
Rumors Refuted and BTC Recovers
After ETF experts refuted the rumors about SEC rejection, BTC managed to recover most of its losses and stabilize around $44,000 for several days.
Bitcoin’s Bull Run Resumes with ETF Developments
The recent announcements from financial giants like BlackRock regarding their ETF fees reignited Bitcoin’s bullish momentum. As a result, BTC surged by over $1,000 and reclaimed the $45,000 level after almost a week. However, this increased volatility led to a significant number of liquidations, totaling over $230 million in wrecked positions on a daily basis.
Over 125k Traders Liquidated with Large Order on OKX
More than 125,000 traders have been liquidated, with the largest order worth $2 million taking place on OKX. The market turbulence and liquidations demonstrate the impact of Bitcoin’s price movements on traders’ positions.
Hot Take: BTC Breaks Resistance and Shows Resilience
Bitcoin’s recent surge above $45,000 signifies a breakthrough of resistance levels after days of sideways trading. Despite the SEC rumors causing a temporary setback, the cryptocurrency showed resilience and quickly recovered. The renewed interest in Bitcoin ETFs from major financial institutions like BlackRock further fueled the bull run. However, increased volatility also resulted in significant liquidations. This highlights the importance of closely monitoring market developments and managing risk when trading cryptocurrencies.
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