#比特币反弹 Bitcoin breaks through $77k, a "major earthquake" in the crypto world!

Today (April 22), the crypto community was once again shaken by a fierce market move — Bitcoin surged past the $77k mark, triggering a series of chain reactions.

"Massive defeat" for the bears: nearly $40 million wiped out in one hour

According to the well-known crypto media Coin Bureau's tweet, after Bitcoin's price broke through $77k, nearly $40 million worth of short positions across the network were forcibly liquidated within just one hour.
And this is only the "tip of the iceberg"; the 24-hour data is even more astonishing: total crypto liquidation across the network reached between $270 million and $424 million, with over 72% of those being short liquidations, approximately 112k investors being "washed out," and the largest single liquidation amount reaching $7.59 million. Over the past day, leveraged short positions betting against Bitcoin have been almost completely wiped out.

Why is "$77k" a key level?

This wave of liquidations was concentrated around the $77k mark, making it the "powder keg" for the shorts.
The $76k to $77k range accumulated a large number of high-leverage short positions. When the price broke through $77k, these shorts were forced to close, requiring buy-ins of Bitcoin, which further pushed the price higher, triggering more short liquidations, creating a spiral of upward "short squeeze."
Faced with Bitcoin's sharp rise, many investors are shouting "bull run," but several data analysis firms remain cautious.

Will history repeat itself?

Similar "short squeeze" scenarios are not new. On April 17, Bitcoin surged violently from $74k, causing $357 million in short liquidations within an hour. After each large-scale short liquidation, the market experiences a brief "clearing vacuum," but if no new funds enter, prices tend to fall back.

Leverage: the double-edged sword of the crypto market

Bitcoin breaking through $77k once again highlights the high volatility and brutality of the crypto market. High leverage for ordinary investors is like playing with fire — even if the direction is correct, they can be forced out early through repeated price fluctuations.
Crypto market volatility is extreme; under leverage, short-term price movements can wipe out accounts entirely. Investors must control their positions, participate rationally, and avoid blindly chasing gains or panic selling.

Is this breakout a genuine continuation of the bull market, or a "false breakout" driven by leverage? Share your thoughts in the comments.