Bitcoin: $3B Shorts Liquidated as BTC Hits $71,000
Bitcoin hits $71,000 after $3 billion short liquidation and $236 billion crypto market gain in largest squeeze on record.
SourceAnalysis
Bitcoin triggered the largest short liquidation in crypto history when shorts lost $3 billion in a single session, driving BTC to $71,000 for an 11.50% surge and injecting $236 billion into the broader crypto market.
Price now tests the upper Bollinger Band resistance at $71,928 with RSI(14) at 87.8 flashing overbought conditions. The MACD golden cross at 1,900.33 keeps the bullish structure intact above EMA50 support at $65,373, yet the overbought momentum points to a probable retracement toward that level before continuation.
Traders tracking BTC price prediction models and Bitcoin short liquidation flows now watch for volume confirmation on any dip to the EMA50 zone.
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