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.<\/p>\n
The drastic price fluctuation primarily affected long position holders\u2014investors who speculated on a continued price rise\u2014with 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.<\/p>\n
This 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.<\/p>\n 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 BlackRock’s IBIT<\/a>. According to detailed data<\/a> released by Farside Investors, the total net inflows across all Bitcoin ETFs were at $1045 million (or $1.045 billion).<\/p>\nBitcoin ETFs Register Record $1 Billion Inflows<\/h2>\n