Bitcoin ETF's debut ended in losses
đ»The debut of bitcoin exchange traded funds (ETFs) in the US has resulted in significant liquidations for futures traders.
đșAfter bitcoin funds began trading, its prices briefly rose to more than $49,000, causing other cryptocurrencies to rise.
đ» However, the initial enthusiasm gradually faded and bitcoin prices returned to pre-ETF levels.
đșThe price volatility led to the liquidation of both long and short positions in bitcoin futures, resulting in significant losses.
đ» In total, losses of over $230 million were incurred as a result of liquidations on various futures products.
âïžConclusion: The urge to get rich quick will never go unpunished. Only use futures to hedge a cash position.
