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🩸$526M in BTC shorts liquidated in 24 hours
Bitcoin rallied from $74K to $78K and the move had all the hallmarks of a classic short squeeze.
At 13:00 UTC alone, the market absorbed a single $357M short liquidation spike.
The takeaway: the rally was amplified not by fresh demand, but by the forced closure of bearish positions.
This matters because a short squeeze can accelerate price very rapidly - but on its own, it does not confirm sustainable spot demand.