---
title: "Bitcoin price nails new $73.6K all-time high as ETFs eat away at supply"
url: https://diffcoin.com/bitcoin-price-nails-new-73-6k-all-time-high-as-etfs-eat-away-at-supply/
description: "Bitcoin (BTC) hit price discovery again before the March 13 Wall Street open as bulls beat out sell-side liquidity.BTC/USD 1-hour chart. Source:…"
published: 2024-03-13
updated: 2024-03-13
author: "Mila"
site: "Diffcoin"
---

# Bitcoin price nails new $73.6K all-time high as ETFs eat away at supply

Bitcoin (BTC) hit price discovery again before the March 13 Wall Street open as bulls beat out sell-side liquidity.

*BTC/USD 1-hour chart. Source: TradingView*

## BTC price roars back after snap wick to $69,000

Data from Cointelegraph Markets Pro and TradingView captured new all-time highs of $73,679 on Bitstamp.

BTC price strength had taken a breather the day prior, consolidating around the $72,000 mark and even seeing a snap $4,000 dip before abruptly heading higher.

In so doing, the market set up a repeat performance from the start of the week, where resistance kept upside moves in check — at least for a while.

On the day, it was $73,800 fulfilling that role, per data from monitoring resource CoinGlass.

Beyond that, little friction stood in the way of price discovery toward $80,000, evidenced by a lack of liquidation levels.

*BTC liquidation heatmap (screenshot). Source: CoinGlass*

“Bitcoin wiped out overleveraged longs, retested the 2021 cycle high & then bounced back to $72,000,” popular trader Jelle [summarized](https://twitter.com/CryptoJelleNL/status/1767760951133065338) on X (formerly Twitter), adding that the landscape was now “looking good” for upside continuation.

## Spot Bitcoin ETFs set record daily inflows

Financial commentator Tedtalksmacro noted the increasing wave of institutional money inflows.

***Related: Bitcoin is up 1,800% 4 years after the 2020 COVID-19 BTC price crash***

These now dwarfed anything seen previously, even accounting for the United States’ new spot Bitcoin exchange-traded funds (ETFs).

“Fund inflows like we have never seen before. It makes 2020 look small… price will continue to catch up over the coming months,” he [told](https://twitter.com/tedtalksmacro/status/1767783948082684217) X followers.

> “The steady grind to 100k is underway. Historically, when these flows peak, theres 2-3 months to GTFO of the market.”

*Bitcoin fund inflows. Source: Tedtalksmacro/X*

The ETFs themselves fetched a record $1 billion of net inflows for March 12, final data confirms, with BlackRock’s product, the iShares Bitcoin Trust ($IBIT), enjoying the lion’s share.

“A record 14,706 BTC inflow on 12 March 2024[,” BitMEX Research noted while](https://twitter.com/BitMEXResearch/status/1767808132879692138/photo/1)[uploading](https://twitter.com/BitMEXResearch/status/1767809000597336255) the numbers to X.

*Bitcoin spot ETF cumulative inflows. Source: BitMEX Research/X*

That amount alone represents a considerable portion of the newly-mined supply in 2024, totaling approximately 65,500 BTC.

The two largest ETFs from BlackRock and Fidelity Investments held in excess of 330,000 BTC as of March 13 — five times what miners added.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

[Source link](https://cointelegraph.com/news/bitcoin-price-new-73-6-k-all-time-high-etfs-eat)