Bitcoin surges to $69,000, triggering $1.2B in short liquidations within 60 minutes.
Macro & Markets ·
Bitcoin has declined nearly 1% over the past 30 days and sits 49% below its all-time high as $390 million in outflows from US spot BTC ETFs last week coincided with accelerated miner sales. Despite softer rate-hike expectations following lower-than-expected July inflation data, the cryptocurrency failed to gain traction while dedicated investment vehicles experienced redemptions, signaling renewed selling pressure. Riot Platforms contributed to supply concerns by selling 4,300 BTC in the second quarter as mining costs approached $91,000 per unit, with the company also redirecting capital toward AI data center operations.