Bitcoin returns $80k about $378 million in short to be liquidated Bitcoin erased the immediate post-election selloff and climbed back above $80,000. BTC fell to around $75,700 after the US mid-term results before reversing sharply to reach above $81,000 during Wednesday's recovery. One of the main drivers was leverage. Roughly $378 million worth of short crypto positions were liquidated within one hour as prices rose, accounting for roughly 81% of forced closures in that period. Bitcoin ETFs also finally returned to positive flows on November 4th after three straight sessions of pullbacks. Net ETF inflow: +$74.6M The individual numbers were very different: Fidelity FBTC: +$236.7M.

Bitcoin returns $80k about $378 million in short to be liquidated Bitcoin erased the immediate post-election selloff and climbed back above $80,000. BTC fell to around $75,700 after the US mid-term results before reversing sharply to reach above $81,000 during Wednesday's recovery. One of the main drivers was leverage. Roughly $378 million worth of short crypto positions were liquidated within one hour as prices rose, accounting for roughly 81% of forced closures in that period. Bitcoin ETFs also finally returned to positive flows on November 4th after three straight sessions of pullbacks. Net ETF inflow: +$74.6M The individual numbers were very different: Fidelity FBTC: +$236.7M.

BlackRock IBIT: -$201.2 million.

ARK 21 shares: +19.9 million dollars.

Bitwise BITB: +$15.2M Important: A short squeeze is not the same as a continuous spot demand. When traders betting against Bitcoin are forcefully eliminated, exchanges automatically buy back their positions, which can accelerate an upward move very quickly. The next major area is around $81,300-$82,000. Bitcoin went from $75.7K to over $80K in about one day. Now buyers have to prove that the rebound can survive the shorts.