Bitcoin was trading at $64,195, while a sharp short squeeze pushed total liquidations to $240 million over the past 24 hours. According to the source material, 61.83% of those liquidations came from short positions, showing that bearish traders took the brunt of the move.
The article also points to a change in fund flows. U.S. spot Bitcoin ETFs recorded fresh inflows after a prolonged stretch of withdrawals, adding support to the price action. At the same time, the Fear & Greed Index was said to be in fear territory and higher than the previous reading of 23, though the latest exact figure was not shown in the source.
Short liquidation wave added force to the move
The report, citing Gate.io, said Bitcoin liquidations reached $240 million in a single day. With nearly two-thirds of the total tied to short positions, the move reflected forced buybacks as traders betting on lower prices were pushed out of their positions.
This kind of setup often appears when price rises quickly and catches shorts off balance. As positions are closed by the market, buying pressure can intensify in a short period. The source also mentioned that the largest single liquidation order hit the session high, but it did not provide the exact amount.
Three sessions of ETF inflows ended a $2.7 billion outflow streak
On the institutional side, the U.S. Bitcoin ETF complex posted net inflows across three sessions from July 2 to July 6. That reversed a 10-day run of net outflows totaling $2.7 billion, according to the article.
BlackRock's IBIT led the recovery in flows, though the exact inflow figure shown in the original text was incomplete. The report added that year-to-date net flows were still negative, yet each of the recent inflow sessions was associated with a same-day rise in Bitcoin price.
July 14 CPI release is the next macro event in focus
The next date highlighted in the source is July 14, when U.S. CPI data is due. The article said the release could affect market sentiment and shape near-term direction alongside changes in the Fear & Greed Index.
For now, the key facts are straightforward: Bitcoin moved back above $64,000, short liquidations accelerated the rally, and spot ETF inflows resumed after a long withdrawal period. The next catalyst in view is macro data.