Bitcoin Price Sees Major Swings Around FTX Bankruptcy Anniversary As Traders Speculate on SEC's ETF Decision
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Bitcoin price surged 8% past $38K in a short squeeze, wiping out $1.56M in shorts.
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The price then crashed 5% in a long squeeze, wiping out $17M longs and $1B open interest.
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The volatility comes as investors speculate on a potential Bitcoin spot ETF approval by the SEC within days.
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The price swings happened around the anniversary of FTX's bankruptcy filing last year.
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Over $1B in BTC open interest wiped out within hours due to the rapid price swings.