#比特币反弹 Bitcoin breaks through $77,000, a "big earthquake" in the crypto world!

Today (April 22), the crypto circle was once again shaken by a fierce market movement—Bitcoin surged past the $77,000 mark, triggering a series of chain reactions.

"Massive defeat" for the bears: nearly $40 million wiped out in one hour

According to a tweet from well-known crypto media Coin Bureau, after Bitcoin's price broke through $77,000, nearly $40 million of short positions were forcibly liquidated across the network within just one hour.
And this is only "the tip of the iceberg"; the 24-hour data is even more astonishing: total crypto liquidation across the network reached between $270 million and $424 million, with short liquidations accounting for over 72%, approximately 112,000 investors being "washed out," and the largest single liquidation amount reaching $7.59 million. Over the past day, leveraged short positions betting against Bitcoin have been almost "completely wiped out."

Why is "$77,000" a key level?

This wave of liquidations was concentrated around the $77,000 mark, where the "gunpowder keg" for shorts lies.
The range between $76,000 and $77,000 accumulated a large number of high-leverage short positions. When the price broke through $77,000, these shorts were forced to close, requiring buy-ins of Bitcoin, which further pushed up the price, triggering more short liquidations, forming a spiral of rising prices and a "short squeeze."
Faced with Bitcoin's sharp rise, many investors are shouting "bull run," but several data analysis agencies remain cautious.

Will history repeat itself?

Similar "short squeeze" scenarios are not new. On April 17, Bitcoin violently surged from $74,000, causing $357 million in short liquidations within an hour. After each large-scale short liquidation, the market experiences a brief "clearing vacuum," but if no new funds enter, prices tend to fall back.

Leverage: the "double-edged sword" of the crypto market

Bitcoin breaking through $77,000 once again highlights the high volatility and brutality of the cryptocurrency market. High leverage for ordinary investors is like picking chestnuts from the fire— even if the direction is correct, they can be washed out early amid price fluctuations.
Crypto market volatility is extreme; under leverage, short-term price movements can wipe out accounts entirely. Investors must control their positions, participate rationally, and avoid blindly chasing gains or panic selling.

Is this breakout a genuine continuation of the bull market, or a "false breakout" driven by leverage? Share your views in the comments.