In brief
- Bitcoin briefly topped $110,000 Thursday morning, sparking $281 million in liquidated short positions across the entire crypto market.
- The price movement followed the release of the ADP National Employment Report, which showed U.S. private payrolls fell last month for the first time since 2023.
- U.S. spot Bitcoin ETFs took in $407.8 million on Wednesday, while Ethereum ETFs shed $1.9 million.
Bitcoin briefly topped $110,000 Thursday morning, sparking over $331 million in liquidations across the crypto market—the bulk of which were short positions.
The price of Bitcoin has since slipped back to $109,720, up 1.8% on the day according to CoinGecko data—just 1.8% from last month’s all-time high of $111,814.
As a result of this…
