Bitcoin is trading just above $28,500, up 5%, after a false report about the Securities and Exchange Commission approving the first bitcoin spot ETF pushed up markets early Monday U.S. time.by the crypto news site Cointelegraph of a spot bitcoin ETF approval, causing $100 million in liquidations. BlackRock and other sources quickly debunked the claim, and Cointelegraph later apologized for a “tweet that led to the dissemination of inaccurate information.
Total bitcoin liquidations in the last 12 hours hit $137.2 million, with long liquidations coming in at $45.6 million and short at $91 million, In a note, David Lo, head of financial products at Bybit, wrote that on-chain activity shows bitcoin holdings by long-term investors are reaching record levels, while Ethereum's gas usage is dropping significantly, leading to faster ether inflation. Bitcoin has increased its dominance – its share of the overall market capitalization of cryptocurrencies – while notching gains relative to ether.
Stocks trended upward.The S&P 500 closed up 1% while bonds drifted lower as diplomatic efforts intensified to prevent the Israel-Hamas conflict from becoming a regional conflict.at the Mortgage Bankers Association's annual convention that high-interest rates have significantly hindered first-time home buyers' access to the housing market.
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