Why Bitcoin, Ethereum and XRP rose on Wednesday

Bitcoin held steady above key support on Wednesday. This eased weeks of pressure on crypto assets. Buyers stepped in after heavy short bets built up in February. Short sellers had to exit as prices climbed. The gains soon lifted big tokens and boosted market mood.

In short

Bitcoin climbs past $69,000 with $580 million in shorts wiped out in 24 hours.
Ethereum hits $2,100. XRP rises on shift to top coins.
ETF money flows turn positive. Coinbase premium points to fresh US buying.
Whales buy more. MTAUR sits at 0.00012677 USDT.

Short wipeouts and mood shift spark Bitcoin rally
Bitcoin broke $69,000. It bounced hard from lows near $63,000. Ethereum grabbed $2,100 with gains over 10%. XRP surged too as cash returned to leaders. Speed picked up once prices cleared main hurdles.

Traders say position shifts drove the action more than hope. Futures skewed bearish for weeks. Funding rates stayed negative most of February. That meant shorts paid to hold on.

This setup primed markets for a squeeze. Bitcoin's uptick forced quick closes on risky shorts. CoinGlass data shows $580 million gone in a day. The buying rush fueled faster gains.

Fear gauges hit rock bottom. Past lows often match those readings. Too much gloom sets up fast turns on light buying. Funding stayed even in the rally. Spot buying mattered more than bets.

Key drivers for Wednesday's push:
Over $580 million shorts crushed to ease bear bets.
Funding held neutral. New bets stayed in check.
US Bitcoin ETFs see fresh cash after outflows.
Coinbase premium flips positive. US buyers wake up.

Stocks and ETF flows join bounce
Crypto stocks showed risk hunger too. Circle jumped on solid earnings. Coinbase rode the crypto wave. Stock moves matched a wider calm in risk assets.

ETFs added lift. Stronger US Bitcoin ETF flows soaked up sales. Positive Coinbase premium meant active US demand. Steady buys cut wild drops and held prices firm.

Whales shifted dynamics. Big players upped stakes in the dip. Patterns point to bets on more gains if speed holds.

Whales pile into this new coin.
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