#比特币反弹 Bitcoin rebounds from 74.8k to 76.5k! Liquidations hit 270 million, shorts are heavily shaken out, is the market about to turn?

The recent market movements, to be honest, are a bit intense. Bitcoin first stabilized around $74.8k, then rebounded all the way to above $76k, but despite the rise, market sentiment remains quite hesitant. Currently, it’s oscillating back and forth between $74.8k and $76.9k, a typical “sideways movement, waiting for direction.”
From the rhythm perspective, this wave is actually a standard V-shaped rebound. After dropping to just over $70k on April 13, buying pressure gradually returned, and by this morning, it had re-established above $76k. But the current issue is— it can’t go higher, nor can it fall lower; the market is clearly in a wait-and-see mode.
Ethereum is similar; after dropping to around $2,100, it steadily recovered, briefly touching $2,450, and now it’s back to around $2,300, moving sideways. Overall, it’s following Bitcoin’s rhythm, but with slightly less momentum.
Looking at the derivatives market, this is where things get more “bloody.” In the past 24 hours, liquidations across the network surged to $270 million, with over 110k forced liquidations. Long and short positions are roughly evenly split, indicating that the overall trend hasn’t been decided yet.
But if you look at short-term movements, it’s a different story— within four hours, shorts were completely liquidated, accounting for nearly 72%. This means that during this rebound, the bears were heavily crushed. The largest single liquidation also hit over $74.8k on Bit, showing that leverage trading remains as aggressive as ever.
On the macro front, there’s also some “adding chaos.” U.S. stocks have recently declined mainly due to geopolitical uncertainties in the Middle East, especially regarding the ceasefire issues between Trump and Persia, which have been fluctuating repeatedly. However, the latest news is that the ceasefire has been extended a bit, easing short-term sentiment. Interestingly, crypto is showing a bit of a “countertrend” vibe. Funds are gradually flowing back, especially into Bitcoin spot ETFs, which have seen five consecutive days of net inflows, and this year’s cumulative inflow has turned positive again, indicating institutional money is slowly returning.
Another potential “landmine” is the timing window: CME options expire on April 24, followed closely by the FOMC meeting, plus expectations of Federal Reserve personnel changes. This series of events could amplify market volatility.
Looking at mainstream altcoins, overall they remain weak and volatile. SOL is around $87, slightly up but still far from its previous high; XRP is around $1.43, also directionless, waiting for the market to give signals.
Market sentiment has slightly improved; the Fear and Greed Index has risen to 32. Although still in “fear,” it’s much calmer than the previous extreme panic, indicating the market is gradually regaining confidence.
To sum up the current situation: Bitcoin has stabilized but hasn’t truly taken off; shorts were just heavily shaken out, but bulls haven’t fully taken control; funds are flowing back, but macro uncertainties remain. The key next step is to see if it can hold above $76k. Once stabilized, the next target is $77k or higher; but if it can’t hold, another round of oscillation and shakeout may occur. At this position, frankly, it’s “calm before the storm.”