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Bitcoin ETF

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Yesterday, the Bitcoin price journey resembled a high-intensity rollercoaster ride, initially soaring past the $73,000 mark before encountering a tumultuous liquidation event. This event saw over $361 million worth of leveraged trades unwound, compelling the BTC price to retract sharply to below $68,300. 
The drastic price fluctuation primarily affected long position holders—investors who speculated on a continued price rise—with a staggering $258 million wiped out. Subsequently, Bitcoin’s price staged a remarkable V-shaped recovery, during which short sellers found themselves on the losing end, with just over $103 million in positions liquidated. 
This <a href="https://www.coinglass.com/LiquidationData" target="_blank" rel="noopener nofollow">data</a> by Coinglass marks the event as the most significant purge of long positions since March 5. At that time, Bitcoin experienced a decline to $60,800 following its climb to a then all-time high of approximately $69,000. 
<h2 id="bitcoin-etfs-register-record-1-billion-inflows">Bitcoin ETFs Register Record $1 Billion Inflows</h2> 
Perhaps spurred by the opportunity presented by the price dip, investors in spot Bitcoin Exchange-Traded Funds (ETFs) engaged in a buying spree, unprecedented in its intensity. For the first time, spot Bitcoin ETFs witnessed a daily inflow surpassing $1 billion on Tuesday, March 12, primarily driven by an inflow of $849 million to <a href="https://www.newsbtc.com/bitcoin-news/bitcoin-etf-breaks-records-blackrocks-ibit-joins-elite-10-billion-club-amidst-soaring-demand/" target="_blank" rel="noopener ">BlackRock’s IBIT</a>. According to detailed <a href="https://twitter.com/FarsideUK/status/1767806474896519308" target="_blank" rel="noopener nofollow">data</a> released by Farside Investors, the total net inflows across all Bitcoin ETFs were at $1045 million (or $1.045 billion). 
The second largest Bitcoin ETF to date, Fidelity, saw a rather quiet day&nbsp; with FBTC taking in only $51.6 million, while Ark Invest ($93 million), Bitwise ($24.6 million), Valkyrie ($39.6 million) and VanEck ($82.9 million) saw relatively strong capital inflows. Notably,<a href="https://www.newsbtc.com/news/bitcoin/grayscale-next-bitcoin-halving-different/" target="_blank" rel="noopener "> Grayscale</a>‘s GBTC saw a waning outflow of just $79 million. 
Bitcoin analyst Alessandro Ottaviani <a href="https://twitter.com/AlexOttaBTC/status/1767808927335321801" target="_blank" rel="noopener nofollow">shared</a> his insights on X, underscoring the magnitude of these inflows, “1 Billy of Total net Inflow! ONE BILLION DOLLARS! […] In the last twelve trading days, The Nine inflow has been $9.2b, with an average of $768m per day. Just imagine if we keep this pace and it is confirmed that GBCT outflow is almost exhausted.” 
Crypto Quant analyst Maartunn provided additional context to the inflow’s impact, revealing, “JUST IN: The Bitcoin Exchange-Traded Fund (ETF) has experienced its highest inflows ever, with an additional 14,706.2 BTC.” This statement further emphasizes the substantial increase in Bitcoin’s demand, potentially setting it up for a major <a href="https://www.newsbtc.com/news/bitcoin/3-signs-that-a-bitcoin-supply-shock-could-be-just-days-away/" target="_blank" rel="noopener ">supply squeeze.</a> 
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"> 
 <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> JUST IN: The Bitcoin Exchange-Traded Fund (ETF) has experienced its highest inflows ever, with an additional 14,706.2 BTC. <a href="https://t.co/xg7wADbRzy" rel="nofollow">https://t.co/xg7wADbRzy</a> <a href="https://t.co/IUAyt1jzGE" rel="nofollow">pic.twitter.com/IUAyt1jzGE</a> 
 — Maartunn (@JA_Maartun) <a href="https://twitter.com/JA_Maartun/status/1767811862173794726?ref_src=twsrc%5Etfw" rel="nofollow">March 13, 2024</a>
</blockquote> 
Adding to the conversation, crypto analyst @venturefounder <a href="https://twitter.com/venturefounder/status/1767817502086553914" target="_blank" rel="noopener nofollow">suggested</a> potential future price movements based on the current trend, “Absolute Bitcoin madness […]&nbsp;The 5-day moving average net inflow has fully recovered to peak. So… probably HIGHER. If this continues, $80-90k by the end of month is not far fetched. No correction has lasted longer than 24 hours on the weekdays. Interestingly, the first <a href="https://www.newsbtc.com/news/bitcoin/real-reasons-bitcoin-price-crash-not-gbtc/" target="_blank" rel="noopener ">major correction</a> of the 2021 cycle came when price went 2x previous ATH. So could we see no major correction until $120k?” 
At press time, BTC already surpassed the $73,500 mark and traded at $73,392. 
<img loading="lazy" decoding="async" class="wp-image-597599 size-full" src="https://www.newsbtc.com/wp-content/uploads/2024/03/BTCUSD_2024-03-13_09-55-17.png?resize=3628%2C1673" alt="Bitcoin price" width="3628" height="1673" srcset="https://www.newsbtc.com/wp-content/uploads/2024/03/BTCUSD_2024-03-13_09-55-17.png?resize=3628%2C1673?w=3628 3628w, https://www.newsbtc.com/wp-content/uploads/2024/03/BTCUSD_2024-03-13_09-55-17.png?resize=3628%2C1673?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/03/BTCUSD_2024-03-13_09-55-17.png?resize=3628%2C1673?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/03/BTCUSD_2024-03-13_09-55-17.png?resize=3628%2C1673?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/03/BTCUSD_2024-03-13_09-55-17.png?resize=3628%2C1673?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/03/BTCUSD_2024-03-13_09-55-17.png?resize=3628%2C1673?w=2048 2048w, https://www.newsbtc.com/wp-content/uploads/2024/03/BTCUSD_2024-03-13_09-55-17.png?resize=3628%2C1673?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/03/BTCUSD_2024-03-13_09-55-17.png?resize=3628%2C1673?w=1140 1140w, https://www.newsbtc.com/wp-content/uploads/2024/03/BTCUSD_2024-03-13_09-55-17.png?resize=3628%2C1673?w=3000 3000w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1">

Bitcoin ETFs See Record $1 Billion Inflows, Pushing Price Over $73,500

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