Bitcoin hits new high above $118K as BTC ETFs see over $1B in inflows on Thursday

2025-7-12 09:22

Bitcoin surged to a new all-time high above $118,000 early Friday, fueled by rising institutional demand and strong signals from across the crypto industry.

As per CoinMarketCap data, the coin reached an all-time high of $118,403.

The world’s largest cryptocurrency gained over 6% in the past 24 hours, trading at $118,376 at the time of writing.

The rally coincided with a sharp spike in inflows to spot bitcoin exchange-traded funds, which recorded $1.18 billion on Thursday—the second-highest daily total since their launch.

Short-sellers were hit hard by the move, with more than $1 billion in crypto short positions liquidated in the past 24 hours, according to data from CoinGlass.

Of the $1.01 billion in liquidations, roughly $570 million came from Bitcoin shorts and $206.93 million from Ether shorts, affecting 232,149 traders.

The broader crypto market also rallied, with total market capitalization rising 5% to $3.66 trillion, according to CoinMarketCap.

BTC ETF inflows continue hot streak

Bitcoin spot ETFs recorded massive inflows on July 10, with total net additions touching $1.18 billion.

BlackRock’s IBIT led with $448.5 million, followed by Fidelity’s FBTC at $324.3 million and Ark’s ARKB at $268.7 million.

DateIBITFBTCBITBARKBBTCOEZBCBRRRHODLBTCWGBTCBTCTotal02 Jul 20250.0184.064.983.09.99.50.05.40.034.616.5407.803 Jul 2025224.5237.115.5114.20.00.00.04.70.00.05.8601.807 Jul 2025164.666.00.0(10.1)0.00.00.00.00.0(10.2)6.2216.508 Jul 202566.84.80.00.00.00.00.03.70.00.04.880.109 Jul 2025125.64.83.057.09.50.00.00.00.015.80.0215.710 Jul 2025448.5324.377.2268.70.00.00.015.20.0(40.2)81.91,175.6Data from Farside Investors.

Bitwise also drew $77.2 million, while VanEck’s HODL saw an inflow of $15.2 million.

Despite the rally, Grayscale’s GBTC logged outflows of $40.2 million, continuing its trend of investor exits.

Cumulatively, over the six trading sessions starting July 2, total net inflows across all issuers stood at $2.69 billion.

The sustained buying reflects renewed institutional demand for Bitcoin exposure through regulated ETF products, amid improving sentiment in the broader crypto market.

ETH breaches $3,000

Ethereum surged past $3,000 on Thursday, briefly touching the $3,030 mark for the first time in five months, as buying momentum gathered pace.

The rally, echoing Bitcoin’s strength, was fueled by a combination of market-wide bullishness and strong inflows into spot Ethereum ETFs.

ETH gained over 6% in the past 24 hours and more than 15% over the last three days.

US spot Ethereum ETFs saw net inflows of $383 million on the day, their fifth straight session of positive flows.

BlackRock’s iShares Ethereum ETF (ETHA) accounted for the bulk of the activity, pulling in $300.9 million.

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