Bitcoin continues to gain attention due to bullish signals across technical charts, increased ETF inflows, and trends in liquidation.
Bullish Signals in Bitcoin Market
Crypto analyst CryptoKaleo noted a sustained price climb from late April through early June, with a consolidation phase in between. He marked this sideways action as accumulation ahead of a breakout. Following this period, Bitcoin surged above key resistance levels in a parabolic rally. Kaleo commented that 'dips are gifts,' suggesting investors treat minor retracements as buying opportunities. His analysis emphasizes growing bullish momentum, reinforcing his stance that Bitcoin remains in a strong growth trend.
Status of Bitcoin ETFs and Institutional Interest
Data from SoSoValue revealed robust market activity in Bitcoin ETFs. Total net assets across all Bitcoin ETFs reached $131.85 billion, representing 6.09% of Bitcoin's total market cap. Daily net inflows stood at $164.57 million, and cumulative inflows hit $45.22 billion. Total daily traded volume reached $2.41 billion, reflecting increased investor participation. BlackRock's IBIT, listed on NASDAQ, led with $131.01 million in daily inflows and $72.55 billion in net assets. Fidelity's FBTC followed with $11.87 million in inflows and $21.63 billion in assets.
Short Liquidation Risks Increase
According to exchange data, a major short squeeze could unfold if Bitcoin reaches $115,000. Liquidation charts show a growing gap between long and short leverage positions. As of the current price level of $107,552, short liquidations are climbing sharply. Data indicates that bullish conviction remains among leveraged positions, as long liquidations have dropped. If Bitcoin pushes beyond $115,000, analysts expect a liquidation cascade could follow, accelerating the upward move.
Bitcoin displays signs of a bullish trend, reinforced by ETF activity and potential short liquidation risks. Ongoing institutional interest may further drive the growth of the cryptocurrency.
