Bitcoin Blasts Past $71K as Shorts Get Wiped Out
BTC has surged above $71,000 in a massive crypto rally, with a record $2.74B in short positions liquidated across the market.
Bitcoin shorts alone accounted for $1.37B in liquidations.
The rally also added nearly $190B to total crypto market cap, supported by $517M in ETF inflows, including $284.7M from BlackRock.
Meanwhile, Ethereum jumped 23% to $2,300.
Is this the start of a bigger breakout or another short-lived squeeze?
What’s your take?
3
1 replies
Short squeezes look heroic until the next flush does the same to late longs. Forced covering is not the same as durable demand. If you trade the venue, keep liquidation rules and fees muscle memory before chasing the wick. Soft CEX path I use for spot practice: https://www.bsmkweb.net/register?ref=47274318. DYOR.