100 Billion Dollars Inflow in One Day…Can Bitcoin Break $80,000?

▲ Bitcoin (BTC) ©

With $100 billion flowing in within a single day, the cryptocurrency market saw a sharp rebound, and Bitcoin has shifted its trajectory to once again aim for breaking $80,000.

According to crypto media outlet Finbold on April 18 (local time), the total cryptocurrency market capitalization increased by approximately $100 billion in 24 hours, from $2.51 trillion to $2.61 trillion. During the same period, Bitcoin (BTC) traded around $77,080, rising by 2.8%, and showed a trend of attempting to re-break $80,000, moving beyond the sideways trading range of recent weeks.

Altcoins also rose alongside. Ethereum (ETH) climbed over $2,400, up 3%, and XRP (Ripple) rose by 2.4% to approximately $1.47. BNB also recorded a similar increase around $643, indicating strength across major assets.

The key background for this surge is the easing of geopolitical risks in the Middle East. As Iran's foreign minister announced the full opening of the Strait of Hormuz to merchant vessels, expectations for easing tensions grew, and international oil prices plummeted by approximately 11%. Consequently, inflation concerns eased, and risk aversion in global markets quickly reversed.

Funds immediately moved to risk assets. The US S&P500 and Nasdaq indices hit all-time highs, and the cryptocurrency market also reacted strongly. In the derivatives market, a short squeeze (buying pressure occurring to liquidate or cover short positions) occurred, expanding the upward movement. Liquidations totaling approximately $750 million occurred over 24 hours, with about $590 million of this being short positions. Liquidations were concentrated in Bitcoin at about $390 million and Ethereum at approximately $144 million to $160 million.

Simultaneously, open interest increased by about 5% to surpass $130 billion, and futures trading volume rose by over 15% to reach $246 billion. This indicates that new capital inflow is accompanied by actual position expansion. However, the media noted that there is a possibility of profit-taking and mixed on-chain signals during price rally phases, so caution should be exercised regarding increased short-term volatility.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*