Today, Bitcoin experienced a "roller coaster" rally, briefly breaking through the $70k mark and reaching a high of $70,300, hitting a new high in April. However, it quickly pulled back and is now hovering around $68,600, down approximately 0.8% over the past 24 hours.

This surge was mainly driven by signals of easing geopolitical tensions, which forced short sellers to cover, triggering a short squeeze. However, there was heavy selling pressure above $70k, with a large amount of profit-taking leading to a rapid price retreat.

In the past 24 hours, the total liquidation amount across the network reached $314 million, with over 81k traders liquidated, most of whom were short sellers suffering significant losses.

Analysts note that Bitcoin has not yet broken out of its consolidation pattern. There is strong resistance between $70,000 and $72k, while support remains at the $68,000 level. The future trend will depend on macroeconomic data, especially the upcoming CPI release this week. If the data comes in softer than expected, it could push Bitcoin to challenge new highs again. #今日你看涨还是看跌？