"Bitcoin ETF Approval Sparks $100M Loss in Bearish Bets"
TL;DR Summary
Traders betting against higher bitcoin prices lost over $100 million as expectations of a spot bitcoin exchange-traded fund (ETF) approval in the U.S. neared the finish line, causing BTC to surge as high as 9% before giving back some gains. Thirteen proposed ETFs are awaiting SEC approval, with a final decision expected on Wednesday, and potential issuers are already filing offering fees, signaling the potential for the first-ever bitcoin ETF in the U.S.
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