Bitcoin ETFs faced over $1 billion in outflows ahead of Christmas, with Fidelity’s FBTC leading the decline at $146 million. In contrast, Ethereum ETFs saw a surge of $130.8 million in inflows, primarily driven by BlackRock’s ETHA. Despite recent sell-offs, Bitcoin ETFs have accumulated $35.83 billion since launch, while Ethereum ETFs have reached $2.46 billion in inflows.
Bitcoin's recent drop below $97,000 triggered $1.57 billion in liquidations, with $1.39 billion in long positions affected, marking the highest liquidation since September 2021. The concentration of liquidations around the $97,700 mark indicates overconfidence among traders anticipating a price surge past $100,000. This steep decline in leveraged long positions suggests a potential for short-term recovery as sell-side pressure diminishes.
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