Crypto Market Recovery Driven by Short Liquidations and ETF Inflows

The cryptocurrency market has been experiencing a mixed trend over the past few days, but recent data suggests that it may be turning around. According to reports, Bitcoin's price has stabilized above $68,000 after experiencing volatility. This stabilization is being driven by a combination of short liquidations and renewed inflows into spot Bitcoin ETFs.

The Ethereum price has also seen significant gains, with the token reaching $2000. Other major cryptocurrencies like XRP, BNB, Dogecoin, Solana, Cardano, and Polkadot have also seen increases in value. The total market capitalization has risen from $2.19 trillion to $2.35 trillion over the past 24 hours.

The short liquidations that occurred in the past 24 hours are estimated to be around $573 million, with nearly $468.5 million being accounted for by shorts. This suggests that there is a significant amount of buying pressure in the market. Additionally, the ETF inflows have surged above $697 million, with over $500 million of this being attributed to Bitcoin ETFs.