GBTC - Bitcoin Tops $57000 Fueled By BTC ETFs $520M Single-Day Inflow | Benzinga
In a remarkable display of market strength, Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) have seen significant price increases, with Bitcoin soaring 10% to surpass the $57,000 mark and Ethereum rising 5% to exceed $3,200 on Tuesday.
This upward trajectory comes alongside a record-breaking trading volume and a notable shift in investor behavior towards cryptocurrency ETFs.
What Happened: The cryptocurrency market experienced a whirlwind of activity in the last 24 hours, leading to the liquidation of $361 million, according to Coinglass data.
Short orders bore the brunt of these liquidations, totaling $280 million and affecting 80,700 traders.
The largest single liquidation order, valued at $10.38 million in ETHUSDT, occurred on Binance (CRYPTO: BNB).
Simultaneously, the trading volume for nine new spot Bitcoin ETFs, excluding Grayscale Bitcoin Trust's (OTC: GBTC), hit an all-time high of $2.4 billion.
BlackRock IBIT (NASDAQ: IBIT) led the charge with a trading volume of $1.3 billion:
It's official..the New Nine Bitcoin ETFs have broken all time ...