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📰 [Opinion: Last night, Bitcoin broke through $78k driven by a short squeeze, with $357 million in market shorts liquidated within an hour]
BlockBeats news, April 18, according to CryptoQuant analyst @AxelAdlerJr, influenced by last night's US-Iran situation news, Bitcoin rebounded from $74k to $78k, and this rally showed typical short squeeze characteristics. In just 21:00, the market absorbed a peak of $357 million in short liquidations. @AxelAdlerJr pointed out that this rebound was not driven by new demand, but by short positions being forced to close. "This is key because while a short squeeze can cause rapid price increases, on its own, it does not confirm sustainable spot demand."
It's the familiar recipe again. $BTC Every surge is accompanied by the lament of the bears; the $357 million liquidation peak is just a number in the liquidity game. Without spot buy support, the rally is like building sandcastles on the beach—only when the tide recedes do you see who was swimming naked. Watching liquidation charts for trading, you'll eventually get liquidated.
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