During early Asian trading hours on Friday, the price of Bitcoin, the leading cryptocurrency, experienced a significant correction from its recent all-time highs. Bitcoin is currently trading below $68,000, marking a nearly 7.5% decline over the past 24 hours. This correction led to substantial liquidations across the network, with over $657 million in positions liquidated within the same timeframe.
According to data from Coinglass, long positions worth over $522 million and short positions worth $137 million were liquidated in the past 24 hours. Of particular note, $216 million in Bitcoin longs were liquidated, with the majority of liquidations occurring on Binance and OKX, totaling $248 million and $236 million, respectively.
Meanwhile, Ethereum, the second-largest cryptocurrency by market capitalization, also saw a drop below $4,000, currently trading at $3,700, reflecting a decrease of nearly 7.3% over the past 24 hours.
In terms of Bitcoin spot ETF activity, there was a net inflow of $132 million recorded on March 14. Notably, Grayscale’s ETF GBTC experienced a single-day net outflow of $257 million. The BlackRock ETF IBIT saw the largest single-day net inflow of $345 million, bringing its total historical net inflow to $12.37 billion. Similarly, VanEck’s ETF HODL recorded a single-day net inflow of approximately $137 million, contributing to its total historical net inflow of $364 million.
As of the time of reporting, the total net asset value of Bitcoin spot ETFs stands at $57.86 billion, with the ETF net asset ratio reaching 4.16%. The cumulative historical net inflow for these ETFs has reached $11.96 billion.
On March 12, Bitcoin spot ETFs experienced an extraordinary single-day net inflow of $1.05 billion, marking the highest recorded since their launch.