Bitcoin Stabilizes Near $68K As $15.2M ETF Inflows Coincide With $249M Liquidations
Bitcoin trades near $68,000 with $15.2M net inflows into spot BTC ETFs on Friday and $249M in 24-hour liquidations of 93,334 traders. Analysts note 9.31M BTC (46% of supply) held above market price must be absorbed before a durable bottom and highlight a potential buying opportunity since 2020.
1. Price and ETF Inflows
Bitcoin has hovered near the $68,000 mark, seeing $15.2 million of net inflows into spot ETFs on Friday even as broader crypto volatility remains muted.
2. Liquidations and Supply Distribution
In the past 24 hours, 93,334 traders faced liquidations totaling $249 million, and 9.31 million BTC—about 46% of total supply—trades above the current market price, suggesting significant overhead that must be absorbed.
3. Technical Analysis and Buying Opportunity
Technical analysts highlight a Level 2 band around $65,000, aligning with previous cycle lows, and suggest current conditions offer the strongest buying opportunity since early 2020, though a lasting bottom may require further consolidation.