$280 Million in Crypto Shorts Liquidated as Bitcoin Tops $110K

Bitcoin On Thursday morning, it briefly surpassed $ 110,000, which prompted more than $ 331 million liquidation on the cryptocurrency market – most of which were short positions.

AND Bitcoin price Since then he returned to $ 109,720, which is 1.8% per day according to Co ringecko Data-just 1.8% compared to last month’s maximum of $ 111,814.

As a result of this movement, over the past 24 hours have been liquidated over $ 101 million in BTC’s short positions, according to Coingling. Ethereum Painted a similar picture, with a liquidated $ 91.2 million in shorts. In total, over $ 280 million in shorts have been liquidated throughout the Crypto market during the last day.

All this movement followed after the publication ADP National Employment Reportwhich showed us that private linen lists had fallen last month for the first time since 2023.

“After releasing freedom, markets have quickly adapted their expectations for FED politics, with the likelihood of reducing the rate in July to 25.3%,” and analyst from Exchange derivatives Bituins said in a note divided by Decipher. “Gold climbed, while the US dollar came under pressure. The crypto market responded positively, and the main assets were bounced in the midst of volatility.”

Ethereum has climbed 5.5% in the last 24 hours Co ringeckoWhile hovering about $ 2,600-which is the highest from mid-June. The global market limit of the CRIPTO currency dropped 0.3% in the past 24 hours, according to Co ringeckoto a total of $ 3.48 trillion. The main drivers include Xrp an increase of 4.9%, Dogecoin 7.3%, i Cardano 7%.

Saltworks He also jumped 3.6% after the US debut Rex-Ospray Solana + Entry Etf, generating 12 million dollars in the inflows on the first day of Wednesday. Sec is expected to approve several other Kripto ETF this year, with a basket of others Saltworks The means waiting in wings.

Us Spot Bitcoin Etfs On Wednesday they saw an inflow of $ 407.8 million, according to FatherlyWith FBTC Fidelity he led, taking $ 184 million. Ethereum etfsIn the meantime, they recorded $ 1.9 million on Wednesday Fatherly.

“BTC has broken through its short -term descending trend,” said Bitunix analyst, noting that it is a cryptocurrency, “approaching a key resistance level of $ 110,348. Support lies in a $ 105 to $ 102,560 zone; if the price withdraws above these levels, and the continuation may continue.”