Bitcoin hits new high above $118K as BTC ETFs see over $1B in inflows on Thursday

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.

Date	IBIT	FBTC	BITB	ARKB	BTCO	EZBC	BRRR	HODL	BTCW	GBTC	BTC	Total
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.