Bitcoin: Hits $79,000 New 14-Week High
Bitcoin surges to $79,000, up $16,000 in four days with $4.3B shorts liquidated and $412B market cap added, marking largest short liquidation streak.
SourceAnalysis
Bitcoin reached $79,000 for a fresh 14-week high, climbing $16,000 over four days while liquidating $4.3 billion in short positions and adding $412 billion to its market cap in the same window.
Historical data on Bitcoin market cap surges without major catalysts and records of Bitcoin largest short liquidation streaks history show this move stands out as the biggest short squeeze in crypto, driven purely by momentum. On the 4h chart, price at $78036.36 tests upper Bollinger resistance at $77956.76 while RSI(14) hits 94.73 in overbought territory and MACD confirms a golden cross at 3105.14; with the 50-EMA support sitting at $67144.9, a healthy retracement to that level appears probable before continuation.
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