Bybit Witnesses Bitcoin Surge to $112,025 Amid ETF Inflows and Short Squeeze

Bitcoin reached an unprecedented high of $112,025 on Bybit, sparking a broad market rally. This surge was fueled by significant spot BTC ETF inflows totaling $218.04 million, marking the first time cumulative net inflows surpassed $50 billion since their inception. Additionally, a short squeeze intensified the upward momentum, generating $660 million in buying pressure within just one minute. Traders had anticipated this liquidity hunt, with analysts like Cryp Nuevo highlighting key liquidation levels. The event underscores the growing institutional interest and market dynamics driving cryptocurrency valuations.

Bitcoin Short Squeeze and ETF Inflows Fuel Crypto Market Rally

Bitcoin surged to a record high of $112,025 on Bybit, triggering a market-wide rally. The MOVE was driven by a spot BTC ETF inflow of $218.04 million, pushing cumulative net inflows past $50 billion for the first time since launch.

A short squeeze exacerbated the uptrend, with $660 million in buying pressure materializing in a single minute. Traders had anticipated the liquidity hunt, with Cryp Nuevo noting, '$111.5k liquidation target hit! When price consolidates, liquidation targets are very powerful.'

Ethereum and SUI led altcoin gains, rising 6% and 9% respectively. While major LAYER 1 tokens benefited from the momentum, memecoins continued outperforming broader altcoin markets.