Crypto Shorts Worth $120M Liquidated In Single Day After Bitcoin, Ethereum Spike As Court Rules In Favor Of Grayscale Over SEC

The cryptocurrency market experienced the liquidation of crypto shorts worth a staggering $120 million within a span of 24 hours. What Happened: This sudden development came as prices of Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), and various altcoins saw a surge, triggered by a recent US appeals court ruling. In a Tuesday ruling, the court ruled in favor of Grayscale in a lawsuit against the Securities and Exchange Commission (SEC). The lawsuit challenged the SEC’s denial of the company’s application to convert the Grayscale Bitcoin Trust (OTC:GBTC) into an ETF. The aftermath of this rulin…

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