Despite the SEC Ether ETF filing approval, the cryptocurrency market continued to decline.

Both Bitcoin and Ethereum There was significant volatility ahead of the SEC’s ETF decision. On Thursday. ETH fell as low as $3,500 and then surged to $3,900 following the first reports that approval of some submissions was imminent. Meanwhile, BTC fell below $66,500 before surging to $68,300 before settling just below $68,000. Liquidation of all leveraged cryptocurrency derivative positions soared to more than $350 million in a single day, the highest since May 1, according to CoinGlass data. Most positions were long bets on rising prices worth about $250 million, suggesting heavily leveraged traders were caught off guard by the sudden price plunge.