Here’s How Many Traders Were Wrecked as Bitcoin (BTC) Exploded to $72K Amid Rising ETF Inflows

Bitcoin had a relatively quiet past few days, especially during the weekend, and had stalled at around $67,000 before the bulls initiated a mind-blowing leg up that drove the asset to less than $2,000 away from its ATH of $73,750.

The alternative coins, led by ETH’s rally, are also in the run, and this volatility caused more than $300 million in losses for over-leveraged traders.The primary cryptocurrency had regained lots of ground in the past week, surging from around $61,000 to $67,000. However, itThat finally happened yesterday evening as the asset flew by the $67,500 resistance and neared $70,000.

Despite retracing by around a grand since then, BTC is still 5.5% up on the day. Perhaps one of the reasons behind these latest increases is the ETF inflows, which have reached a six-day streak.However, BTC’s gains are nowhere near those of ETH. The second-largest cryptocurrency skyrocketed from under $3,000 to a multi-month high of its own of over $3,700 amidThe total crypto market cap added roughly $200 billion in a day.

The total value of wrecked positions sits at $340 million. Expectedly, ETH is responsible for the biggest piece of the pie, and the largest single liquidated position also belongs to it, which is valued at over $3 million.EditorialsWhat is BounceBit: Liquid Restaking on BitcoinSign-up FREE to receive our extended weekly market update and coin analysis report

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