Bitcoin near $81,200, Ethereum $2,415 after nearly $944 million liquidations
Bitcoin is holding its ground at about $81,200 this Thursday, with Ethereum trading at $2,415.
This comes after a rocky week for global markets (thanks to new US inflation numbers and rising Treasury yields), which led to nearly $944 million in crypto positions being wiped out in just 24 hours.
Both Bitcoin and Ethereum dipped a bit but managed to avoid bigger drops.
Institutions buy $175.62 million US Bitcoin ETFs
Institutional investors have stepped up, pouring $175.62 million into US spot Bitcoin ETFs and $24.84 million into Ethereum ETFs, ending a 10-session streak of withdrawals.
Their support helped cushion the blow as the overall crypto market cap fell by almost 3% to $2.72 trillion, with altcoins like BNB and Cardano also taking hits.
Experts warn leverage threatens $80,500 support
Experts say Bitcoin's crucial support sits around $80,500, but warn that too much leverage could put pressure on it.
The mood in the market is pretty neutral right now (the Fear and Greed Index is sitting at 48) as everyone watches what happens next with the economy.