Bitcoin’s post-Grayscale victory hype is already fizzling out.
On Thursday, the top crypto asset fell back to $26,300, which was roughly its level before the pump., the price dump has triggered $103.58 million in liquidations over the past 24 hours, including $3.12 million liquidation on Bybit.The collapse comes shortly after a brief rally for Bitcoin on Tuesday, whenconfirmed a decisive victory over the SEC in court in its battle to launch a Bitcoin spot ETF.
The victory still doesn’t confirm that a spot ETF will be approved, however, which many expect to catalyze major price appreciation for Bitcoin.that the Federal Reserve’s tight monetary policy may keep prices sequestered for a while.Grayscale’s GBTC shares have fallen by 3.43%, erasing some of their gains after the lawsuit win this week.
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