The cryptocurrency market is experiencing exciting times with massive inflows into Bitcoin and Ether ETFs and significant short liquidations. Analysis indicates rising accumulation and potential for further price increases.
Record Inflows in Bitcoin and Ether ETFs
On Thursday, investors directed significant amounts into crypto ETFs, marking the second-largest daily inflow for both assets since their respective spot ETF launches. Bitcoin ETFs attracted $1.17 billion while Ether ETFs garnered $383.1 million. The influx coincided with Bitcoin's price reaching a new peak of $113,800.
Short Liquidations in the Market
Bitcoin reached new all-time highs, triggering the liquidation of over $1 billion in short positions across the cryptocurrency market. More than 232,000 traders faced forced closures as Bitcoin’s price surged sharply.
Bitcoin Accumulation Trends and Future Projections
Accumulation of Bitcoin hit an annual high with 248,000 BTC held in strategic buyers' addresses. This rise in demand, despite higher prices, suggests potential further price increases and a strong bullish sentiment among holders.
The current state of the cryptocurrency market reflects high investor activity and rising demand for BTC and ETH. Analysts' forecasts indicate that price growth may continue in the future.
