$BTC surged last night, jumping from 64k to 70k, driven by news catalysts and a short squeeze
Many people only saw Bitcoin suddenly surge, but what truly drove this move was more than just a technical rebound #BitcoinReturnsTo$69kAfterThreeMonths
The first wave was mainly triggered by the U.S. Treasury increasing the scale of Treasury buybacks, which the market interpreted as improving liquidity expectations, rapidly boosting sentiment toward risk assets
Afterward, BTC broke through the key 66k level, triggering stop-losses on a large number of short positions. More than $1 billion in short po