BTC stabilizes above 70k! Four major reasons for today's rally

1. Rising expectations of Middle East ceasefire → Risk appetite recovery
Trump stated that the conflict could end in 2–3 weeks, US-Iran negotiations are progressing, oil prices are falling, inflation pressures are easing, and the Fed's rate cut expectations are reignited, leading to capital flowing back into risk assets.

2. MicroStrategy invests an additional $330 million in BTC
Large-scale purchases from April 1–April 5 again, institutional "buying the dip" boosts confidence, driving market momentum.

3. Spot ETF stabilizes and rebounds
BlackRock IBIT and others resume small net inflows, selling pressure diminishes, buying returns, supporting price rebound.

4. Contract short positions heavily liquidated
Short-term rebound triggers a large number of high-leverage short liquidations, forming a "short squeeze rally," with over $280 million in liquidations in 24 hours.

5. Technical oversold rebound
After dropping from 75k to 65k, support at 68k–69k is effective, bulls launch a counterattack, breaking through the 70k level.

Short-term outlook:

• Resistance: 71k → 73k

• Support: 68,000 → 66k

• Trend: Volatile rebound, not a one-sided bull run

Interaction: Are you long or short now? How much have you gained or lost?
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