Knowledge is power: Always verify before you Trust.
Apparently, BlackRock's Spot Bitcoin ETF approval news was fake and it led to massive Bitcoin pumps and massive liquidations like a lot of people got liquidated, the news I read reported $71 million in Bitcoin liquidations. I was not liquidated but I lost some money as my stop loses got hit or run through due to the massive Bitcoin pump which later dumped after the news was verified to be a piece of fake news, Nice one to whoever started the fake news, great manipulation and playing with people feeling today. The bad part is that when the spot Bitcoin ETF finally comes into being in the United States, it won't be celebrated much again.
That being said $71 million in leveraged positions was wiped out by the fake Bitcoin ETF news. That is a lot of money gone within minutes, which is one of the reasons why leveraged trading or futures trading is super risky. In my opinion, It requires a deep understanding of the crypto market, a well-thought-out strategy, and disciplined risk and money management. Please trade with Stop Losses for your own good, don't leave your trades like that because someone on the Internet says they do not trade with Stop Losses, any who didn't have their Stop Losses in place today and have a small account with short positions open got liquidated trust me because the bitcoin pump was massive and fast.
What happened today is a stark reminder that the crypto market or any financial market is vulnerable to misinformation. I believe If you are powerful or influencer enough, you could be tempted to spread fake news (or optimistic/pessimist statements) and f*uk all others that would use leverage on it. Just to enter without pumping or to exit without dumping your money. Good people should be cautious with leverage or futures trading in front of important awaited news.
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