【Breaking Analysis】The Middle East waterway reopens, BTC breaks through 78,000! Is this a return of risk assets or a short squeeze trap?

Brothers, major good news has landed! Iran announced that the Strait of Hormuz is open to commercial ships during the ceasefire, and Trump subsequently stated "the situation is over," directly triggering a surge in global risk assets, with the cryptocurrency market soaring across the board!
Geopolitical benefits: The Strait of Hormuz carries about 20% of the world's oil transportation. Its reopening greatly alleviates concerns over supply chain disruptions and rising inflation, and risk appetite quickly returns. As a high-risk asset, Bitcoin has surged strongly under this logic.

Short squeeze: In the past 24 hours, nearly 200k people worldwide have been liquidated, with a total liquidation amount of $817 million, most of which are short positions. This indicates that the current rally is strongly driven by the liquidation of short positions.

Market sentiment driven by news is intense, but its sustainability needs to be watched. Technically, BTC has broken through the previous consolidation range upper (around 76,000), with the next key resistance at 78,200 - 78,600. If a volume breakout occurs, the next target is 79,000 - 80,000. However, caution is needed for potential "spike" pullbacks due to weekend low liquidity, with initial support at 76,900 - 76,000.

Did you catch this big rally? Do you think this is the start of a new upward trend, or just a short-term peak driven by news? Like, comment, and share your views and positions!
$BTC