In crypto news today (July 9), Bitcoin has bounced back from yesterday’s pullback, climbing above $63,000 and up +0.5% over the past 24 hours. Liquidations have slowed considerably since yesterday, dropping from over $350M to $282M, with over $183M of that figure coming from long positions, signaling that bulls still haven’t learned their lesson from the past few days.
Yesterday saw a second consecutive day of positive ETF flows for Bitcoin, a metric that is helping the market in its recent rally. Over $265M in BTC was bought via ETFs yesterday, with over $200M of that coming from BlackRock’s IBIT after it sold nearly $10Bn over the past ten sessions.
While the majority of tokens experienced a slight retracement overnight, Zcash (ZEC) and Monero (XMR) are two of the more notable projects in the green today, with privacy-focused projects defying the odds, up +5.5% and +2%, respectively.
The Fear & Greed Index is still sitting firmly in ‘Extreme Fear’, but climbing two points from 20/100 to 22/100 today. It is unlikely that the index breaks out of the extreme fear phase until Bitcoin is firmly trading back above $70,000.
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