Bitcoin today broke through the $71,000 mark strongly, reaching a high of $71,890, hitting a nearly one-month high, with a single-day increase of over 7%. This rebound not only recaptured the losses caused by the Middle East conflict but also drove mainstream cryptocurrencies like Ethereum into collective gains, with market sentiment clearly improving.

The main reason is capital reflow: data shows that the US spot Bitcoin ETF has experienced net inflows of over $680 million for two consecutive days, with institutional funds re-entering the market becoming a key force in pushing up prices. Despite tense geopolitical tensions, Bitcoin has demonstrated resilience independent of traditional assets, with some traders even viewing it as a safe haven.

Liquidation data is staggering: this rapid surge also triggered intense volatility, with total forced liquidations across the network reaching $447 million in the past 24 hours, over 120,000 traders being forced to close positions, with short positions accounting for more than 60%, indicating that leverage risk in the market remains high.