{"id":23916,"date":"2026-03-17T07:38:28","date_gmt":"2026-03-17T07:38:28","guid":{"rendered":"https:\/\/bitunikey.com\/news\/bitcoin-price-hits-six-week-high-driven-by-short-liquidations-and-etf-inflows\/"},"modified":"2026-03-17T07:38:33","modified_gmt":"2026-03-17T07:38:33","slug":"bitcoin-price-hits-six-week-high-driven-by-short-liquidations-and-etf-inflows","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/bitcoin-price-hits-six-week-high-driven-by-short-liquidations-and-etf-inflows\/","title":{"rendered":"Bitcoin price hits six-week high driven by short liquidations and ETF inflows"},"content":{"rendered":"<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">Bitcoin price briefly surged to a six-week high of $75,937 on Tuesday, as over $330 million in short positions were liquidated in the past 24 hours.<\/p>\n<div id=\"cn-block-summary-block_b8502fbda091e8e7540fc6f9174ec12a\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>Bitcoin price briefly surged to a six-week high as over $330 million in short positions were liquidated across the crypto derivatives market.<\/li>\n<li>Technical indicators point to strengthening momentum, with a potential rounded bottom forming while traders watch resistance near the February highs.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>According to data from crypto.news, Bitcoin (BTC) price touched an intraday high of $75,937 on March 17, morning Asian time, as it broke past the $75,000 resistance for the first time since early February. The bounce past the key psychological level triggered a market-wide rally with altcoins such as MemeCore (M), FET, and Zcash (ZEC) leading gains with double-digit rallies on the day.<\/p>\n<p>Bitcoin\u2019s surge led to large-scale liquidations across leveraged crypto markets. According to <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.coinglass.com\/liquidations\" target=\"_blank\" rel=\"nofollow\">data<\/a> from CoinGlass, nearly $498 million was liquidated, with over $330 million coming from short positions as traders closed bearish positions opened during the early February market sell-off. Bitcoin alone specifically accounted for $118 million of those short liquidations.<\/p>\n<p>Another major tailwind that supported today\u2019s rebound is the return of consistent inflows into spot Bitcoin ETFs, signaling strong institutional demand. <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/sosovalue.com\/assets\/etf\/us-btc-spot\" target=\"_blank\" rel=\"nofollow\">Data<\/a> compiled by SoSoValue shows that the 12 U.S. spot Bitcoin ETFs drew in over $200 million over the past day, extending their inflow streak to 6 straight days that drew in nearly $1 billion in total.<\/p>\n<p>Investors are also viewing Bitcoin as a safe-haven asset amid geopolitical tension in the Middle East, especially since traditional safe-haven assets such as gold and silver have shown relative weakness in recent days.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<h1 class=\"wp-block-heading\">Bitcoin price analysis<\/h1>\n<p>On the daily chart, Bitcoin price seems to be forming a rounded bottom pattern, a typical reversal pattern in technical analysis. The 20-day SMA is closing in on a bullish crossover with the 50-day SMA, a sign that short-term momentum is turning positive.<\/p>\n<figure class=\"wp-block-image size-full\"><figcaption class=\"wp-element-caption\">Bitcoin price is forming a rounded bottom pattern on the daily chart \u2014 March 17 | Source: crypto.news<\/figcaption><\/figure>\n<p>For now, the next key resistance level that traders are watching currently lies at $79,000 highs seen during February, and aligns with the 50% Fibonacci retracement level.<\/p>\n<p>A sharp breakout from this level could push prices to as high as $89,850, which would be the neckline of the double bottom formed. On the contrary, failure to hold $72,000 support could lead to a retest of lower levels.<\/p>\n<p>At press time, Bitcoin price was hovering around $74,000, still holding onto 6% gains over the weekly period.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<div class=\"cn-block-disclaimer\">\n<div class=\"cn-block-disclaimer__icon\">\n            <svg class=\"icon icon-info\" aria-hidden=\"true\"><use xlink:href=\"#icon-info\"><\/use> <\/svg>        <\/div>\n<p class=\"cn-block-disclaimer__content\">\n            Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.        <\/p>\n<\/p><\/div>\n<p><!-- .cn-block-disclaimer --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price briefly surged to a six-week high of $75,937 on Tuesday, as over $330 million in short positions were liquidated in the past 24 hours. Summary Bitcoin price briefly&hellip;<\/p>\n","protected":false},"author":1,"featured_media":15641,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-23916","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/23916","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=23916"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/23916\/revisions"}],"predecessor-version":[{"id":23917,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/23916\/revisions\/23917"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/15641"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=23916"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=23916"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=23916"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}