The cryptocurrency market faced major fluctuations in the last 24 hours, resulting in significant losses for traders. However, some institutional investors continue to show activity.
Trader Liquidations in the Cryptocurrency Market
Data from CoinGlass reveals that over 200,000 traders were liquidated, leading to total losses exceeding $567.99 million. Long positions absorbed the bulk of the losses at $370.27 million, while short sales accounted for approximately $197.84 million.
Sharp Price Decline of Bitcoin
Bitcoin prices experienced sudden fluctuations amidst market uncertainty. The market remained stable around $88,500 until a sudden drop pushed the value below $81,000. This drop occurred following announcements about new tariffs, leading to panic across the market.
Increased Inflows to Bitcoin ETFs
Despite the overall panicked atmosphere, institutional players demonstrated activity distinct from retail investors' behavior. Bitcoin ETFs recorded inflows of 1,941 BTC, approximately worth $159.76 million. The ARK 21Shares ETF purchased 1,500 BTC, boosting its holdings to 47,974 BTC valued at around $3.95 billion. Additionally, Fidelity's Wise Origin Bitcoin Fund added 1,375 Bitcoins, while Bitwise received 386 Bitcoins.
Thus, despite the severe fluctuations in the cryptocurrency market and significant losses for traders, institutional investors continue to show interest in Bitcoin by investing in ETFs.
