Bitcoin’s Price Surge to $104K Liquidates Nearly $400M in Bearish BTC Bets, Opening Doors to Further Gains
The rally followed a U.K. trade deal announcement and record ETF inflows exceeding $40 billion.
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The rally followed a U.K. trade deal announcement and record ETF inflows exceeding $40 billion.
Bears are nursing their highest losses over two years as majors surged as much as 20%.
Hong Kong, Hong Kong, 9th May 2025, Chainwire
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Spot bitcoin ETF net inflows totaled over $4 billion in the last three weeks, when adjusted for hedge fund basis trades, the bank said.
The price has jumped 33% in a few weeks after plunging to $75,000 in the days following President Trump’s early April Liberation Day tariff announcement.
Once-allied Democrats continue to drag their heels on the first big crypto bill, leaving a key vote in doubt as GOP Majority Leader Thune calls for action.
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