Bitcoin wiped liquidity at $76.5k, but the risk of correction is not over yet.

Bitcoin wiped liquidity at $76.5k, but the risk of correction is not over yet.
$BTC has followed the script I mentioned since yesterday: the liquidity pool around $76.5k has been completely wiped out. After that sweep, market sentiment quickly shifted to a more optimistic direction, with many starting to expect that the upward trend will continue strongly. However, looking more closely at the current data, I believe that the actual picture is still not entirely tilted in favor of the bulls.
Today, about $500 million in short positions were liquidated, indicating a significant amount of selling pressure has been forced to close. Typically, after such a strong short squeeze, the market will need more time to absorb the new liquidity before choosing the next direction. Meanwhile, the liquidity clusters below are still continuing to form, meaning the lower price range remains a very clear price magnet.
Notably, more and more people believe that a new 'bull cycle' has begun. However, when the majority leans towards a scenario, the market often tends to move in the opposite direction to maximize surprise and liquidate positions.
Therefore, the targets I still prioritize monitoring are $70k and further down in the $64k–$67k range. Personally, I believe that the $70k mark is likely to be reached soon, possibly triggered by negative macro news or an unexpected event like a major hack.
I am still waiting for more market data before confirming the next move.
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