Bitcoin extended its overnight rally, climbing from a 24-hour low of $61,306 to hit a 14-day high of $64,371 at around 06:00 UTC. It now trades at $64,024, up 0.395% on the day. Ethereum followed suit, rising from $1,728.95 to a high of $1,833.4 before settling at $1,795.66, up 0.241%.
Over 92,000 Liquidated, Shorts Bear the Brunt
The past 24 hours saw 92,783 traders liquidated across crypto exchanges, with total liquidation volumes reaching $499.96 million. Long liquidations stood at $206.99 million, while short liquidations hit $293 million — shorts accounted for nearly 60% of the total. The bulk of the liquidations occurred during the overnight squeeze, with $339.63 million wiped out in 12 hours ($273.61 million from shorts alone). The largest single liquidation order was a $11.6 million ETHUSDT position on Binance.
ETF Inflows Snap Losing Streak, but June Bleeding Remains
U.S. spot Bitcoin ETFs recorded their fifth consecutive day of net inflows, with Friday (July 3) posting a $221.7 million intake — the largest single-day inflow in nearly two months, breaking a ten-day outflow streak. Fidelity's FBTC led the charge with nearly $166 million, though BlackRock's IBIT saw $40.43 million in outflows on the same day. BlackRock's staking-based Ethereum fund also debuted, pulling in $100 million on its first day. Fed Chair Kevin Warsh recently signaled easing inflation risks, but the CME FedWatch tool shows the market still prices a 95-98% probability of no rate cuts through 2026. Notably, Bitcoin ETFs saw a record $4.06 billion in net outflows in June, bringing year-to-date net outflows to roughly $5.4 billion, suggesting the recent stabilization is just a blip.
SOL Edges Up, XRP Dips
SOL trades at $82.16, up 0.122% in 24 hours, having touched a 14-day high of $83.43 on July 4. XRP bucked the trend, falling 1.26% to $1.144 — the only decline among the four major coins — despite briefly reaching a 14-day high of $1.18 on July 5.
The Crypto Fear & Greed Index recovered to 27 (Fear), up from 24 (Extreme Fear) yesterday and 15 (Extreme Fear) last week, but still stuck in the fear zone. U.S. stocks also rallied, with the S&P 500 gaining 0.72% to 7,537.43 and the Nasdaq surging 1.12% to 26,121.16. Key factors to watch include whether ETF inflows can sustain and whether Bitcoin can hold above $64,000.