Crypto Market Sees $467M Liquidations As Bitcoin Hits $116,000
Recent data indicates a significant recovery in the cryptocurrency market, with Bitcoin and altcoins experiencing notable surges over the past 24 hours.
Key Highlights
- Bitcoin surged past $116,000 but has slightly retraced to $115,400, marking a 4% increase over the week.
- Ethereum reached $4,250 and is now at $4,160, showing a weekly gain of 3.4%.
- The broader market recovery led to substantial short liquidations totaling $467 million in derivatives contracts over the last 24 hours.
- Bearing contracts accounted for $358 million or 76.6% of total liquidations. Bitcoin led with $177 million, followed by Ethereum with $130 million, and Solana with $34 million.
Spot ETF Inflows
- Bitcoin spot ETFs have seen inflows of $4.7 billion over the past month.
- Ethereum spot ETFs, approved in mid-2024, recorded inflows of $983 million during the same period.
