After a chain of tiring sideways days, Bitcoin suddenly skyrocketed to 64,000 USD to the surprise of investors, turning Altcoins into a hopeful green.
Bitcoin "overcomes thousands of obstacles" to reach 64,000 USD, crypto ETF records inflow after many "fiery" days
On September 20, 2024, after many days of struggling with gloomy cash flow, Bitcoin spot ETF exploded with a trading session witnessing a net cash flow of up to 158.3 million USD.
Statistics on inflow/outflow of Bitcoin ETFs. Source: Farside Investors (20/09/2024)
The two funds that almost dominated the Capital flow were ARK Invest's ARKB with $81.1 million and Fidelity's FBTC with $49.9 million. Notably, IBIT of the giant BlackRock recorded no money flow, a rather strange phenomenon because BlackRock's Bitcoin ETF is Capital a "magnet" that attracts all the eyes of investors.
Bitcoin price showed strong "willpower" when it skyrocketed to the threshold of 64,000 USD in just a few short days.
1h chart of BTC/ USDT pair on Binance exchange at 12:20 PM on 09/20/2024
While Bitcoin ETFs have inflows of hundreds of millions of dollars, Ethereum ETFs continue to maintain "poor" cash flow, with only inflows of 5.2 million USD. But the good news is that the 4-day "red streak" has ended.
Statistics on inflow/outflow of Ethereum ETFs. Source: Farside Investors (September 20, 2024)
Ethereum, although not showing as impressive performance as BTC, also increased to $2,550.
1h chart of ETH/ USDT pair on Binance exchange at 12:20 PM on 09/20/2024
Meanwhile, SOL recorded a series of green candles, increasing continuously from 140 USD to nearly 150 USD. Perhaps partly due to the good effect from the launch of the second phone lineSolana Seeker .
1h chart of SOL/ USDT pair on Binance exchange at 12:20 PM on 09/20/2024
The market is pumping hard, perhaps the "Short " are the most unhappy. In the past 24 hours, there have been $150 million worth of liquidated orders, 2/3 of which were short bets.
Liquidation data on the crypto Derivative market, CoinGlass screenshot at 12:20 PM on 09/20/2024
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