Bitcoin reclaims above $68,000: Short sellers liquidated over $500 million, combined with Nvidia's earnings report positive boost to BTC trend

February 26 News: Bitcoin prices rebounded strongly amid a surge in short liquidations and positive sentiment in tech stocks. The price briefly touched $69,487 during the session, then stabilized around $68,200, with a 24-hour increase of over 4%. Previously, due to macro uncertainties and geopolitical risks, Bitcoin temporarily fell below the $63,000 level. The recent rebound indicates that market buying interest quickly strengthened near key support levels.

Data shows that during the rapid price rise, there was a significant short squeeze in the crypto derivatives market. CoinGlass statistics indicate that total futures liquidations across the network amounted to approximately $576 million, with short positions accounting for about $470 million. Liquidations related to Bitcoin alone reached around $194 million. As prices rose, short traders were forced to cover their positions, further boosting upward momentum and creating a typical "short squeeze" market structure.

Market risk appetite has also improved, fueling Bitcoin's rebound. After NVIDIA, a leader in artificial intelligence, reported strong earnings, major U.S. stock indices rose in tandem. The Dow Jones Industrial Average, Nasdaq 100, and S&P 500 all saw significant gains. The earnings report showed that the company's Q4 revenue hit a record high, and annual revenue increased substantially year-over-year, easing previous concerns about overheating AI spending and helping restore overall risk asset sentiment.

Meanwhile, spot Bitcoin ETF fund flows also showed signs of a phased recovery. Data from SoSoValue indicates that several spot Bitcoin ETFs experienced a single-day net inflow of about $257.7 million, marking the first large-scale capital inflow since mid-February. Although a sustained trend has not yet formed, the re-entry of institutional funds is seen as a positive sign of medium-term demand resilience.

From a market structure perspective, Bitcoin's current rebound is driven by derivatives liquidations, improved macro risk sentiment, and institutional fund replenishment. If ETF net inflows continue and macro conditions remain stable, Bitcoin's price may continue to oscillate at high levels with a bullish bias. However, short-term volatility risks still warrant attention.