Bitcoin Surges $2,000 in 50 Minutes

Bitcoin rocketed $2,000 higher in just 50 minutes, inflating its market cap by a staggering $42 billion as $41 million in short positions liquidated in the last hour alone, per Bull Theory data. This rapid Bitcoin price surge echoes historical short squeeze events from the past year, where institutional inflows and macroeconomic shifts drove similar crypto market cap increases, liquidating bears and propelling BTC toward fresh highs amid ongoing hype around assets like TAO.

Zooming into the 4-hour chart, Bitcoin trades at $79,716.79 within a bullish structure, hugging the upper Bollinger Band resistance near $79,926.84 while the EMA50 at $77,858.14 and EMA200 at $74,835.68 anchor firm support below. MACD screams bullish with a golden cross at 586.25, yet RSI at 61.27 stays neutral, hinting at potential exhaustion—expect a tactical pullback to test that EMA50 confluence before resuming the grind higher, classic setup for squeezing more shorts in this Bitcoin short squeeze liquidations frenzy.