- Over $48 million has been shorted of bitcoin in the last 24 hours.
- Almost this period, the price of bitcoin has climbed by almost 6%, and it is currently trading at $66,300.
Following a rally above $66,000, short liquidations of Bitcoin BTC +0.071%, the largest digital asset by market capitalization, have surged to more than $48 million in the last 24 hours.
The increase comes after U.S. inflation statistics was released on Wednesday, which revealed that the core CPI increased by 3.6% year and by 0.3% month over month. With the smallest monthly increase since December, this represents the lowest 12-month core inflation number since April 2021. These numbers point to a slowdown in inflation.
There have been $58 million worth of liquidated bitcoin positions as a result of the price increase during the last day. During the same time frame, roughly $155 million worth of liquidations struck the broader bitcoin market. Based on Coinglass statistics, the majority of these combined cryptocurrency liquidations, totaling around $113 million, were short positions.
According to The Block’s price website, the price of bitcoin is currently trading at about $66,300, up more than 6% in the last day.
Spot inflows into bitcoin ETFs rise
With a net influx of approximately $302 million on Wednesday, bitcoin spot ETFs had their biggest daily inflow since early May. Since May 3rd, this is the largest influx to yet.
According to SoSoValue data, Fidelity’s FBTC led the inflows with $131 million, followed by the Bitwise Bitcoin ETF (BITB) with $86 million. In addition, $39 million was raised by Ark Invest and 21Shares’ ARKB.
According to Coingecko data, bitcoin dominance increased marginally to 51.9% over the previous day while ether dominance decreased somewhat to 14.4%. The worldwide market capitalization of cryptocurrencies has surged by 5.5% in the last 24 hours, with a current value of $2.51 trillion.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
