Glassnode: $500M Shorts Liquidated as BTC Spikes

Glassnode data exposed a massive short liquidation buildup that preceded BTC's sharp advance, with $500m in shorts force-closed within minutes as price spiked above $69k and open interest collapsed.

Traders using hyperliquid heatmaps saw the asymmetrical weakness develop as early as ten days prior. On the 4h chart BTC trades at $72624.55 inside the Bollinger band with upper resistance at $73048.4; the overbought RSI at 90.1 combined with price testing that upper band points to a probable healthy retracement toward the EMA50 support at $65681.79 before any continuation higher, while the MACD golden cross at 2135.3 keeps the broader bullish structure intact.