Bitcoin Plunges 10% Below $42k, Erasing Recent Gains and Triggering $338M in Liquidations! 📉💥

In a roller-coaster ride for the crypto markets, Bitcoin recently took a sharp 10% nosedive, dipping below the crucial $42,000 threshold. This sudden drop not only wiped out recent gains but also resulted in a staggering $338 million in liquidations within a 24-hour span, leaving over 101,000 traders reeling from the impact.

Key Liquidation Highlights:
The tumultuous descent saw the largest individual liquidation on Bybit, where a whopping $4.5 million position faced the harsh reality of the market. Long positions bore the brunt of the sell-off, with a substantial $271 million in liquidations recorded.

Bitcoin ETFs in the Limelight:
Amidst the market turbulence, Bitcoin Exchange-Traded Funds (ETFs) took center stage. These financial instruments, designed to track the price of Bitcoin, experienced a significant surge in trading volume, surpassing the $1 billion mark. Notably, new ETFs attracted an impressive $700 million worth of flows on their inaugural day.

However, it wasn't all smooth sailing for ETFs. Grayscale's Bitcoin ETF witnessed a notable outflow of $95 million, signaling a nuanced response from investors amidst the market fluctuations.

Causes of the Drop:
The burning question remains: What catalyzed this abrupt downturn in Bitcoin's price? Was it a culmination of external factors or an internal market correction? Share your insights in the comments below as we unravel the mysteries behind this volatile episode.

As the crypto community navigates through these market gyrations, staying informed and engaged is paramount.

Like, share, and follow @MemeLauncher for real-time updates, expert analyses, and discussions on the latest trends shaping the cryptocurrency landscape.

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With the Bitcoin halving fast approaching and despite constant outflows from GBTC, it’s pretty wild that $IBIT now accounts for over half of BlackRock’s net flows YTD, doubling any of their other 420 ETFs. Similarly, $FBTC is making a big impact within Fidelity, representing 70% of their YTD flows, which is 5 times more than any other of their ETFs.

#etfs #bitcoinhalving #ETFsInsights

$BTC is going at a passive rate now at 67,688 and it will go upto 68,500-69000 today.

look for 68500-69000 and sell short.

BTC after ETFs approval has seen new highs and also after halving its prices are high but not what was planned for it to be.

Now for correction after 68500_69000 it will come down to 66500-67000.

The Reason behind is that all the ETFs , banks and government will want some Profits to be collected after being a week of ETFs approval . coz people have belly to be feed.
#BTC☀ #btcgoingdown #ETFsInsights

Update on the Cointucky Derby for bitcoin ETFs: Last week saw outflows of -$888 million for the group, likely linked to bankruptcy, primarily from Gemini/Genesis selling. Expecting this trend to slow over the next week. They still have approximately $3.9 billion of $GBTC to sell.

#ETFsInsights #BTC #Write2Earn‬ #trendingtopic #ETFMARKET

With the Bitcoin halving fast approaching and despite constant outflows from GBTC, it’s pretty wild that $IBIT now accounts for over half of BlackRock’s net flows YTD, doubling any of their other 420 ETFs. Similarly, $FBTC is making a big impact within Fidelity, representing 70% of their YTD flows, which is 5 times more than any other of their ETFs.

#HotTrends #etfs #trendingtopic #bitcoinhalving #ETFsInsights

U.S.-based spot bitcoin ETFs continued their winning streak, attracting a massive $252 million in inflows on Friday. This marks the highest single-day inflow in a month and the seventh consecutive day of positive net flows.

BlackRock's IBIT ETF once again led the pack in terms of inflows, solidifying its position as a top choice for investors. However, Grayscale's #gbtc bucked the trend with negative net flows.

Meanwhile, ether ETFs took a different path, experiencing seven consecutive days of net outflows. This suggests that investor sentiment towards the second-largest cryptocurrency may be shifting.

#ETFsInsights #BlackRock⁩ #Ether $BTC $ETH