Crypto Market Rebounds Amid ETF Inflows and Memecoin Surge

The cryptocurrency market has shown significant improvement today, following a sharp decline yesterday. According to CoinGecko data, the global crypto market cap has risen by 1.6% in the last 24 hours to reach $2.78 trillion.

BTC is trading at $79,439.24 after a 1.5% surge, while Solana (SOL) has led the majors with an impressive 8% jump to $103.86. Ethereum (ETH) and XRP have also shown gains, up 1.6% and 1.1%, respectively.

However, not all traders were able to capitalize on this momentum, as CoinGlass data reveals that over 99,560 traders were liquidated in the past day, totaling $421.02 million. Short sellers took a significant hit, with $246.06 million in short positions wiped out compared to $174.94 million in longs.

Additionally, ETF inflows have been steady, with Bitcoin funds pulling in $31.36 million and Ethereum ETFs adding $192 million on their seventh consecutive day of inflows. XRP funds also saw a significant influx, pulling in $28.14 million.