Bitcoin Sets New ATH Above $118K — $1 Billion In Shorts Obliterated As ETF Inflows Surge

Bitcoin surged to a new all-time high (ATH) above $118K as spot BTC ETF (exchange-traded fund) inflows surged, triggering over $1 billion in liquidated shorts.

BTC climbed as high as $118,403.89 before profit taking sent it back to $118,193.47 as of 2:21 a.m. EST. Despite the slight pullback, Bitcoin remains up more than 6% over the past 24 hours, according to CoinMarketCap.

Bitcoin

Bitcoin Shorts Hammered

Bitcoin’s explosive rally triggered the largest short liquidations of the year, with over $1.02 billion wiped out in bearish positions.

According to CoinGlass, around 237,000 traders were liquidated, underscoring the scale of the move. The single biggest loss was an $88.5 million BTC-USDT short on HTX.

Bybit led all exchanges in total liquidations with $461 million, over 93% of which came from short positions. Binance and HTX followed with $204 million and $193 million in liquidations, respectively.

Bitcoin ETF Inflows Soar Past $1.1 Billion

Surging Bitcoin ETF inflows are helping underpin BTC’s surge. Farside Investors data shows over $1.175 billion flowed into the funds collectively yesterday. 

Most of the flows were posted by BlackRock’s IBIT, which has been the top choice for institutional investors since the Bitcoin ETFs launched in January last year. This trend continued with another $448.5 million entering IBIT’s reserves yesterday. 

Investors also turned to Fidelity’s FBTC and Ark’s ARKB, with respective inflows reaching $324.3 million and $268.7 million. Bitwise’s BITB saw $77.2 million in net inflows for the day, while another $15.2 million entered VanEck’s HODL ETF and $81.9 million was added to Grayscale’s BTC fund.

Related Articles:

  • Bitcoin Tops $112K ATH As BTC ETF Inflows Surge, Trump Slams Fed
  • Trump Media Doubles Down On Crypto With ‘Blue Chip’ ETF
  • Snoop Dogg Drops An NFT Series On Telegram – Sold Out In 30 Minutes

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