$999 million in one day: here’s what matters in the market $BTC 👇
Yesterday we discussed a short squeeze: about $648 million in shorts were liquidated.
But today an even more important figure appeared.
U.S. spot Bitcoin ETFs received approximately $999 million in net inflows in a single day.
This is the largest daily inflow in about 11 months.
Why is this important?
A short squeeze can quickly push the price higher because traders are forced to close their positions.
ETF inflow is a different story: it shows capital coming in through spot funds.
So BTC’s move to $87K was not only about liquidations.
Now $BTC has returned to around $86K after the high of about $87.4K.
Next, what to watch: whether large ETF inflows will continue over the next trading sessions.
One strong day is interesting. A series of such days would be far more important.
#BTC #Bitcoin
Yesterday we discussed a short squeeze: about $648 million in shorts were liquidated.
But today an even more important figure appeared.
U.S. spot Bitcoin ETFs received approximately $999 million in net inflows in a single day.
This is the largest daily inflow in about 11 months.
Why is this important?
A short squeeze can quickly push the price higher because traders are forced to close their positions.
ETF inflow is a different story: it shows capital coming in through spot funds.
So BTC’s move to $87K was not only about liquidations.
Now $BTC has returned to around $86K after the high of about $87.4K.
Next, what to watch: whether large ETF inflows will continue over the next trading sessions.
One strong day is interesting. A series of such days would be far more important.
#BTC #Bitcoin