Bitcoin hits new high above $118K as BTC ETFs see over $1B in inflows on Thursday
2025-07-11 06:48:39
Main Idea
Bitcoin surged to a new all-time high above $118,000, driven by significant inflows into Bitcoin spot ETFs, while Ethereum also saw strong gains and ETF inflows.
Key Points
1. Bitcoin reached an all-time high of $118,403, gaining over 6% in the past 24 hours.
2. Bitcoin spot ETFs recorded $1.18 billion in net inflows on July 10, with BlackRock’s IBIT leading at $448.5 million.
3. Over $1 billion in crypto short positions were liquidated in the past 24 hours, with $570 million from Bitcoin shorts.
4. Ethereum also rallied, gaining over 6% in 24 hours, with US spot Ethereum ETFs seeing $383 million in net inflows.
5. The broader crypto market rose 5%, with total market capitalization reaching $3.66 trillion.
Description
Bitcoin surged to a new all-time high above $118,000 early Friday, fueled by rising institutional demand and strong signals from across the crypto industry. As per CoinMarketCap data, the coin reached an all-time high of $118,403. The world’s largest cryptocurrency gained over 6% in the past 24 hours, trading at $118,376 at the time of writing. The rally coincided with a sharp spike in inflows to spot bitcoin exchange-traded funds, which recorded $1.18 billion on Thursday—the second-highest dail...
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