Bitcoin: $1.1B Short Squeeze Liquidations

Bitcoin delivered a rapid short-squeeze that produced $1.1b in liquidations within a single day, according to Adam Back.

Price action shows BTC at $69335.2 inside a bullish trend where EMA50 sits at $64442.94 and EMA200 at $64035.97; with price testing upper Bollinger resistance at $68394.45 while RSI(14) flashes overbought at 85.61 and MACD registers a golden cross at 1092.94, a healthy retracement toward the 50-EMA support appears probable before continuation. This move aligns with ongoing BTC price prediction discussions and highlights crypto market volatility patterns seen over the past year.