Overview
- U.S. spot bitcoin ETFs drew roughly $750 million in net creations Tuesday, the biggest daily intake since October, with Fidelity, Bitwise and BlackRock among the largest contributors.
- Breaking above the $94,000–$95,000 band triggered a short squeeze, with about $700–$780 million in crypto liquidations and roughly $290 million in BTC shorts wiped out.
- Prices reached roughly $96,000–$97,000, marking multi‑month highs as analysts pointed to spot-led buying rather than leveraged speculation.
- Prediction markets now price elevated odds of a six‑figure print, with Polymarket showing as high as about 72% probability of $100,000 this month.
- Fragilities remain after earlier fund outflows and from policy and geopolitical risks, including pending Senate crypto legislation and a U.S. ‘leave Iran’ alert.