#MarketRebound The ongoing crypto market recovery aligns with continued capital inflows into crypto investment products.
Digital asset investment products see inflows for the seventh week in a row, with deposits totaling $224 million during the week ending June 6, as per CoinShares report. This brings the last seven weeks of inflow to $11 billion, indicating institutional investors’ increasing exposure to digital assets.
Ether
ETHUSD
led with $296.4 million in inflows, marking its 7th week of inflows totaling $1.5 billion.CoinShares head of research James Butterfill attributed this to reducing macroeconomic uncertainties as investors await clarity from the US Federal Reserve.
Butterfill said:
“There has been a noticeable deceleration amid uncertainty over monetary policy, with investors adopting a wait-and-see stance ahead of further signals from the US Federal Reserve on inflation.”
In the meantime, SoSoValue reported positive inflows into US-based spot ETFs, with approximately $788.9 million flowing into spot Ethereum ETFs between May 22 and June 9.
Approximately $386.2 million flowed into spot Bitcoin ETFs on June 10.
The long-term trend for crypto investment products suggests a consistent demand, which positively impacts crypto prices.
Massive short liquidations fuel price surge
Another driver of today’s rally is a wave of short liquidations that have triggered a significant short squeeze.
In the past 24 hours, over $451 million in crypto positions have been liquidated across the crypto market, with approximately $391 million representing short position liquidations.
Short Bitcoin
BTCUSD
leveraged positions totaling $195.8 million have also been liquidated on the day.
The largest single liquidation occurred on HTX, where an
ETHUSDT
position worth $4.06 million was liquidated. #ETH
