Bitcoin Rally Fizzles Despite Over US$1 Billion in ETF Inflows

Bitcoin had been eyeing the US$85K (AU$121.1K) mark as the coin topped out at US$84,835 (AU$120,929) in the wee hours Australian time. It has since erased all its gains and currently trades at US$82,802 (AU$118,031), a similar level to 24 hours ago. That has wiped out US$2K (AU$2.85K) in just a couple of hours. With the price swings, traders on both sides of the market have been caught out. Data from CoinGlass shows that over 90,000 traders have been liquidated over the past 24 hours, with a total liquidation volume of US$349.72 million (AU$498.51 million).