Bitcoin just hit above $65,000 for the first time in three weeks.


$BTC broke above $65,000 today, its highest since June 22, helped by softer inflation data and news that Japan's upper house committee advanced a bill that could open the door to spot Bitcoin ETFs.
But roughly $111 million in positions got liquidated over the same 24 hours, most of it short sellers forced to buy back at a loss. A squeeze like that can push a price move further and faster than actual new demand would on its own.
None of this means the rally isn't real. It means part of today's move was mechanical, not just people deciding Bitcoin suddenly got more attractive.
Are you reading this as a genuine shift, or as a bounce that needed a squeeze to get this far?
BTC-0.33%
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