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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.
| 02 Jul 2025 | 0.0 | 184.0 | 64.9 | 83.0 | 9.9 | 9.5 | 0.0 | 5.4 | 0.0 | 34.6 | 16.5 | 407.8 |
| 03 Jul 2025 | 224.5 | 237.1 | 15.5 | 114.2 | 0.0 | 0.0 | 0.0 | 4.7 | 0.0 | 0.0 | 5.8 | 601.8 |
| 07 Jul 2025 | 164.6 | 66.0 | 0.0 | (10.1) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | (10.2) | 6.2 | 216.5 |
| 08 Jul 2025 | 66.8 | 4.8 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 3.7 | 0.0 | 0.0 | 4.8 | 80.1 |
| 09 Jul 2025 | 125.6 | 4.8 | 3.0 | 57.0 | 9.5 | 0.0 | 0.0 | 0.0 | 0.0 | 15.8 | 0.0 | 215.7 |
| 10 Jul 2025 | 448.5 | 324.3 | 77.2 | 268.7 | 0.0 | 0.0 | 0.0 | 15.2 | 0.0 | (40.2) | 81.9 | 1,175.6 |
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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