US spot Bitcoin ETFs pulled in $731 million on Thursday, their largest single-day inflow since January, as BTC reclaimed the $80,000 level. The rally triggered $544.85 million in leveraged liquidations, even as CryptoQuant flagged thin fresh buying ahead of a key test near $82,300.
US-listed spot Bitcoin ETFs took in $730.9 million on Thursday, the largest daily haul since Jan. 14, when the funds attracted $843.6 million, according to SoSoValue data. Bitcoin reclaimed the $80,000 level the same day, after trading between roughly $76,000 and $81,000 earlier in the week.
IBIT drives 62% of the inflow
BlackRock's IBIT drew roughly $454 million of Thursday's total, with Ark and 21Shares' ARKB taking $138 million and Fidelity's FBTC adding $74 million. Grayscale's two products added a combined $57 million, while VanEck's HODL and WisdomTree's BTCW were the only funds to shed money, at $20 million and $5 million respectively.
Every fund gained between 5.7% and 5.9% on the day, and total net assets closed at $103.34 billion, now equal to just over 6% of bitcoin's market capitalization. The session reverses Tuesday's $236 million outflow, when IBIT alone accounted for $201 million of the redemptions.
Shorts get squeezed as BTC surges
Traders betting against Bitcoin got liquidated as the price pushed through $81,000. CoinGlass recorded $544.85 million in leveraged crypto liquidations over 24 hours, with short liquidations at $456.44 million against $88.42 million in longs.
Bitcoin's rally coincided with a decline in the US Dollar Index, which fell to 99.001, down 0.58% on Thursday. USD/JPY also plunged nearly 2.5% over 24 hours, a move widely viewed as evidence of intervention by Japanese authorities.
CryptoQuant flags weak fresh demand
Despite the inflow surge, CryptoQuant remained cautious, citing weaker spot demand and heavy short covering as $83,000 emerges as a key bull market threshold. The rally was driven largely by traders closing short positions rather than opening new long positions, pointing to limited fresh buying demand, the firm said.
Bitcoin holders realized 23,000 BTC in net profits on Aug. 21, the highest daily amount this year, and about 110,000 BTC in total since Aug. 19. CryptoQuant placed Bitcoin's next major test at its 365-day moving average, which it put at roughly $82,300.
According to CryptoQuant: "A decisive close above $83K would confirm the new bull market", while a rejection could trigger a pullback toward the 200-day moving average near $69,000.
Sources: CoinDesk, Cointelegraph, The Daily Hodl
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