Bitcoin Surges Past $80,000 as Whales Flock In and ETF Inflows Soar
Bitcoin's recent surge past $80,000 has sparked a massive short squeeze, with over $400 million in liquidations in the past 24 hours. This marks the largest single-day liquidation in history, according to CoinGlass data.
The market sentiment has shifted dramatically, and bears are being pushed out of their heavily one-sided positions. Whales continue to accumulate Bitcoin, with top wallets holding from 1 to 100,000 coins adding 10,000 more BTC tokens this month.
Net inflows to Bitcoin ETFs have surged to $2.26 billion in the past six days, indicating a strong bullish outlook. This is the highest level of net inflows since September and October last year, when BTC traded above $100,000.
A pullback is expected shortly, but analysts predict that the token will continue its rally toward $85,000 and eventually $100K in the next few weeks if momentum resumes.