Bitcoin ETF

Bitcoin

April

Spot

<h2 id="key-points">Key Points</h2>
<ul>
 <li>Bitcoin’s value surged past $66,000, causing a spike in short liquidations.</li>
 <li>Bitcoin spot ETFs saw their largest daily inflow since early May.</li>
</ul>
<p>Bitcoin, the largest digital asset by market cap, recently saw its value surge past $66,000. This increase led to a spike in short liquidations, which exceeded $48 million in just 24 hours.</p>
<h2 id="market-response-to-inflation-data">Market Response to Inflation Data</h2>
<p>This rally came after the release of U.S. inflation data. The core CPI showed a month-on-month increase of 0.3% and a year-on-year increase of 3.6%. These figures suggest a decrease in inflation, marking the lowest 12-month core inflation reading since April 2021.</p>
<p>The rise in Bitcoin’s price resulted in $58 million in liquidated Bitcoin positions. The wider cryptocurrency market experienced over $155 million in liquidations. The majority of these liquidations, approximately $113 million, were short positions.</p>
<h2 id="bitcoin-spot-etfs-inflow-increase">Bitcoin Spot ETFs Inflow Increase</h2>
<p>Bitcoin spot ETFs experienced their largest daily inflow since early May, with a total net inflow of over $302 million. Leading the inflows was Fidelity’s FBTC with $131 million, followed by the Bitwise Bitcoin ETF (BITB) with $86 million.</p>
<p>Bitcoin’s dominance increased slightly to 51.9%, while Ethereum’s dominance fell slightly to 14.4%. The global cryptocurrency market cap increased by 5.5% and now stands at $2.51 trillion.</p>
<p>The GM 30 Index, which represents a selection of the top 30 cryptocurrencies, increased 5.45% to 133.49 during the same period.</p>

Bitcoin Rockets Beyond $66,000, Igniting Surge in Short Liquidations

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