Assessing Bitcoin’s current market dynamics – Low Inflows, high leverage, and…

Key Points

1. Bitcoin [BTC] nearly hit its all-time high on Wednesday, 09 July, falling just $60 short of $111,970.

2. $229.28 million worth of positions were liquidated in the last 24 hours, with only $12.8 million being long positions, highlighting the effectiveness of the short squeeze.

3. A massive $7.8 million worth of short liquidations were triggered within a minute on Binance.

4. The monthly average for inflows was 5.39k BTC, and the daily average was at 3.19k BTC, indicating low BTC inflows.

5. The 1-month liquidation heatmap highlighted liquidity at $110k and another magnetic zone at $112.6k, suggesting potential future price movements.