Bitcoin Surpasses $96,000 as ETF Inflows and Liquidations Boost Market
Bitcoin's price surged past $96,000 this week due to increased institutional demand and reduced inflation concerns. This was accompanied by significant inflows into U.S. spot Bitcoin ETFs and a favorable U.S. CPI report.
- U.S. spot Bitcoin ETFs saw $753.7 million in net inflows, the largest since October.
- Fidelity's ETF led with $351 million, followed by Bitwise's $159 million, and BlackRock's $126 million.
- Ethereum-focused ETFs also experienced renewed interest, with $130 million in net inflows.
The CPI report showed inflation at 2.7% year-on-year, aligning with expectations and reducing fears of further rate hikes. This has supported risk assets like cryptocurrencies.
Short liquidations reached $290 million for Bitcoin within 24 hours as prices exceeded $96,000, while total crypto market short liquidations approached $700 million.
Bitcoin now tests former resistance levels as support, with potential continuation toward the $105,000–$110,000 range if momentum persists. Sustained ETF inflows and reduced selling pressure from long-term holders indicate strong underlying demand.
