Bitcoin's Wall Street Debut brings sorrow for futures traders, induces $83M Liquidations

[{"selector":"#anim-6ddff392-fbb0-4180-916c-da44d6f6cd86","keyframes":{"transform":["translate3d(-105.69476%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-0719da61-cb8f-46b2-a600-fb6efb3c4b36","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e67ed9a0-8799-4d73-8e30-d63ed666981c","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] By: Nisha Kumari Image credit: NewsBTC Jan 13, 2024

BTC ETF's debut Impact

[{"selector":"#anim-84f3bd41-0923-40b5-8d48-4e1e31faf1aa","keyframes":{"transform":["translate3d(-105.69476%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-31386065-7d77-4121-b2fa-71f7a8b4743d","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-2090bcbf-0fcf-4357-a299-9fb5705bb7f0","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-85eea6ec-8d60-4818-9109-bf7e6b9bae8c","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-04860971-2e9e-478b-8d50-c9fbef63b5d7","keyframes":{"transform":["translate3d(-120.92199%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-be0e101a-6a36-4155-8614-c441c1a4c233","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-9ed82562-f31f-4f6c-8bb0-be404b8b86e5","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-64496df7-1e60-4f61-841c-ff5f86c67ba7","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-b017d517-0e35-4d42-ab67-7fef91d73da1 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(10.955456571907538%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Bitcoin ETF debut in the US didn't follow the anticipated 'sell-the-news' pattern, yet it influenced $80 million in long & short bitcoin futures positions. Image credit: Wealth Management

Sudden spike ignited other BTC prices

[{"selector":"#anim-9b12bf17-5aa4-4880-85b3-c85314ba6cda","keyframes":{"transform":["translate3d(-117.55953%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-a69e4780-21d0-4694-a358-a696fe255dc5","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-bd4e1188-5095-4ae2-b7f5-ffd2eae97ee4","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-2eb1c416-4e2c-48f0-8f3d-a73059b3ea39","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e1567b76-5d34-4643-ad92-1665e7c80aec","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-cbddf498-119e-434d-9af8-1c2729d5d6fe [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-47664f54-b005-4e2f-b7c5-0f14665a32aa","keyframes":{"transform":["translate3d(-105.69476%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-5a067fbe-9a57-45e0-8f13-590deb484c63","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-30e4ea45-918a-455d-a8f9-3fbfad5f9c2e","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] Image credit: Entrepreneur After initial trades, BTC briefly surged above $49,000, prompting a rapid increase of up to 10% in ether (ETH) and Solana’s SOL prices within hours.

Market observation

[{"selector":"#anim-27fa9a76-6e98-4d4d-8a87-f7b22a3ad1dd","keyframes":{"transform":["translate3d(-118.45238%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-d3ba2994-473b-485f-b9dd-8da0432e510b","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-3feaaffe-dd6c-462b-a884-933076868202","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-b9ebfb2b-f56e-4e00-a837-29d8f7019778","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-7581c520-3039-46c3-a8df-6940fe07942a","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-4d1f4e15-82a5-4279-b0fc-46449a5c130e [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-47609b5a-06a0-4e1a-bff0-6c52f896f1d9","keyframes":{"transform":["translate3d(-105.69476%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-8ad8d957-e75e-412a-b0da-c4fba01a6888","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-68ec3063-319b-431a-8ca3-7bc3eb4ddede","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] Grayscale's bitcoin ETF were likely influenced by sellers Image credit: VOI

Drop in ETF price

[{"selector":"#anim-2b832fb6-27d7-4267-9e6c-242edfd72469","keyframes":{"transform":["translate3d(-119.34524%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-10c6dffa-ae78-441a-a793-f01e3adb1614","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-15cc5ba7-02ee-465f-a2c4-1b554eaf4378","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-9d6afe10-9fd7-4ea4-ae37-d735fb801b27","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-6ee48054-a3fd-4e35-9541-90fa637df33e","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-02997f54-cba8-4eb1-a2cb-e5458aecd442 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-585774c0-4289-4c76-8000-48039349b389","keyframes":{"transform":["translate3d(-105.69476%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-7a240408-0f1a-4287-a6d0-1e185a537afc","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-aa37d81a-e163-455a-b3a2-6160c1fd2a9c","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] Prices dropped to $45,700, matching the level before ETF trading commenced. Image credit: Bloomberg

End Day Outcome?

[{"selector":"#anim-3b6e92b3-b43a-4cc9-9788-367e858434af","keyframes":{"transform":["translate3d(-116.66666%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-7a61cb57-4100-4f84-99c2-8ca63c80d077","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-6434c682-57b9-4470-a6d2-387a55489659","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-43e82a75-efab-4247-8939-de222f176775","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f4b98d10-c96a-41a4-b095-3c1156e604a4","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-b12dea69-9e92-47cf-9128-42d4545012fc [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(18.219924788285088%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-d02ea9a6-ae1d-4261-8d76-b20ddd3e1042","keyframes":{"transform":["translate3d(-105.69476%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-8a734616-c320-4b9d-895a-3ba0f7eb4b04","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-8116e60a-4b27-42df-8ea2-c7f022a44d67","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] ETF trading prices have not surpassed the $47,000 threshold since late Thursday. Image credit: NT News

What GBTC ETF represents?

[{"selector":"#anim-4031253d-3e56-425e-b38e-dc4f51418632","keyframes":{"transform":["translate3d(-116.07143%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-bd494cbd-317f-4269-98a0-ce7537db7bbe","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-64236b10-eea1-4163-9da3-ebcae8ce011a","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-50a036f6-7819-4013-9112-b308fbdfc238","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-1037e839-008b-48ce-8b8c-46d4c0d30b54","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-53b2f672-0489-42c1-b155-b1f636016461 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-c0831044-fd6b-45a4-8e37-8c8a3022b45c","keyframes":{"transform":["translate3d(-105.69476%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f579e600-40fb-46d6-a33e-44d99629cd66","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-d779bbb0-343e-463e-a18f-f4ffe2e5f6a1","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] The Grayscale Bitcoin ETF marks the shift from their previous discounted Bitcoin trust, holding spot bitcoin in each share. Image credit: AMWatch

Price swings led to liquidations

[{"selector":"#anim-c0e6505d-b96d-417f-8694-693a8bb0072c","keyframes":{"transform":["translate3d(-114.28572%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-7ae44b3a-3d66-48c3-b2a3-46698ade2926","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-bb97be07-ce8c-4066-a449-9cdaaa3160e4","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-b2b90e12-1386-4d03-9351-58bd184f88b0","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-8f2ffd94-e1d8-4787-b50a-7707ed8f8be8","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-da3f809b-419c-4db2-a9d7-e3f163987938 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-845261bf-e52a-4c3c-bd5c-791ccbd51944","keyframes":{"transform":["translate3d(-105.69476%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e64a689c-e875-47bb-8e5c-69721eb5dce8","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-b773c316-16b1-4877-8ff4-a130070dc148","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] The volatile price swings led to $83 million liquidations, with Binance bearing the highest impact at nearly $40 million. Image credit: BlockWorks

Elon Musk backs dogecoin says spacex holds bitcoin

[{"selector":"#anim-1f60803f-2fdc-4bb4-a1d1-ed12f2b4432d [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-7765b68d-306c-4517-b54f-f1601e053eba","keyframes":{"transform":["translate3d(-105.69476%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-2c90cf25-5b30-4c33-b3ae-fda2cfe146a7","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-aef8b616-d098-4179-9afa-fd7c4049d540","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-eae72692-63b7-4b9a-9146-011f22f234dd","keyframes":{"transform":["translate3d(-115.77381%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e1f7346a-a038-45a1-bd5e-84d79d308173","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-bc566bb0-1714-4e7a-a1d0-0470c529f959","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-b3ee5a00-1a50-4657-b947-3641aa641ac7","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] Image credit: ETF Trends Learn more