Bitcoin surged to a brand new all-time excessive (ATH) above $118K as spot BTC ETF (exchange-traded fund) inflows surged, triggering over $1 billion in liquidated shorts.

BTC climbed as excessive as $118,403.89 earlier than revenue taking despatched it again to $118,193.47 as of two:21 a.m. EST. Regardless of the slight pullback, Bitcoin stays up greater than 6% over the previous 24 hours, in keeping with CoinMarketCap.

Bitcoin Shorts Hammered

Bitcoin’s explosive rally triggered the biggest quick liquidations of the yr, with over $1.02 billion worn out in bearish positions.

In response to CoinGlass, round 237,000 merchants have been liquidated, underscoring the dimensions of the transfer. The one largest loss was an $88.5 million BTC-USDT quick on HTX.

Bybit led all exchanges in whole liquidations with $461 million, over 93% of which got here from quick positions. Binance and HTX adopted with $204 million and $193 million in liquidations, respectively.

Brief positions price $1.02B have been liquidated in 24 hourshttps://t.co/uBQ0VD9qtJ pic.twitter.com/WkMN0FTTbC

— ICO Drops (@ICODrops) July 11, 2025

Bitcoin ETF Inflows Soar Previous $1.1 Billion

Surging Bitcoin ETF inflows are serving to underpin BTC’s surge. Farside Buyers knowledge exhibits over $1.175 billion flowed into the funds collectively yesterday. 

A lot of the flows have been posted by BlackRock’s IBIT, which has been the best choice for institutional buyers for the reason that Bitcoin ETFs launched in January final yr. This development continued with one other $448.5 million getting into IBIT’s reserves yesterday. 

Buyers additionally turned to Constancy’s FBTC and Ark’s ARKB, with respective inflows reaching $324.3 million and $268.7 million. Bitwise’s BITB noticed $77.2 million in web inflows for the day, whereas one other $15.2 million entered VanEck’s HODL ETF and $81.9 million was added to Grayscale’s BTC fund.

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