BTC_Chopsticks (btcchopsticks)

🚀 Excitement is palpable as the #CryptoCommunity eagerly anticipates the approval of spot #BitcoinETFs in the US! 🌐 #ETFApproval

• 0 replies
• 0 recasts
• 0 reactions

📰 Renewed Hype and Market Moves: -Enthusiastic bidding erases last week's FUD. -#Bitcoin soars over $47k on tweets hinting at imminent approvals. -Traders navigate speculation, keeping liquidations in check.

• 0 replies
• 0 recasts
• 0 reactions

💼 Rebuilding Leverage and Bullish Bets: -Despite recent volatility, open interest and futures leverage rebuild. -Traders restore bullish positions in anticipation of potential 10-15% rally. -Caution prevails, acknowledging risk of correction if ETF approval falls through.

• 0 replies
• 0 recasts
• 0 reactions

3/ Consensus Remains High on Approvals Bloomberg and Fox journalists, backed by SEC sources, maintain over 90% probability of ETF approvals. Last-minute meetings with major exchanges signal readiness for imminent trading.

• 0 replies
• 0 recasts
• 0 reactions

2/ Leverage and Liquidations Drive Price Drop Excess leverage, not regulatory concerns, caused a sharp Bitcoin drawdown, with over $500 million in cascading liquidations crashing the price.

• 0 replies
• 0 recasts
• 0 reactions

New tax reporting rules for crypto transactions over $10,000 in the 2021 Infrastructure Bill are causing compliance confusion and legal challenges, with groups like Coin Center arguing privacy violations. The broad definition of traders and lack of reporting details add to the complexity.

• 0 replies
• 0 recasts
• 0 reactions