BTC price reached $28.3 thousand

Oct 17, 2023
Bitcoin grows by 5% and is trading at a price of $ 28.3 thousand after a false publication on X (formerly Twitter) of the cryptocurrency news site Cointelegraph about the approval of a spot bitcoin ETF.

The post was deleted 30 minutes after publication, but it significantly affected the value of cryptocurrencies.

According to CoinGlass, the total amount of BTC liquidity in the last 12 hours reached $137.2 million, while long positions amounted to $45.6 million, and short positions — $91 million.

David Lo, Head of Financial Products at Bybit, noted that high market activity demonstrates that long-term investors have reached a record level of BTC holdings. At the same time, gas consumption in the Ethereum network is significantly reduced.

Bitcoin increases its dominance in the cryptocurrency market and at the same time achieved an increase compared to Ethereum.

The S&P 500 index grew by 1%, and US government bonds fell in price due to the conflict between Israel and Hamas.