Traders betting against higher bitcoin (BTC) prices lost over $100 million in the past 24 hours as expectations of a spot bitcoin exchange-traded fund (ETF) approval in the U.S. neared the finish line.
BTC surged as high as 9% Monday, before giving back some gains, as prices jumped over $47,000 for the first time since April 2021. Traders on the crypto exchange OKX took on the most losses at $84 million, followed by Binance at $71 million.
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