Bitcoin Strongly Rises, Bears Suffer "Bloodbath" In the intense fluctuations of the cryptocurrency market, Bitcoin (commonly referred to as "big pie" in the industry) has recently shown remarkable performance, while Ethereum (colloquially known as "small pie") has also followed closely with a violent surge, causing a stir in the market.
From the market data, around the key price point of 2870, a large number of short positions were ruthlessly liquidated.
These massive short positions not only failed to suppress the price but instead became the "fuel" for pushing the coin price up. The actions of short sellers stopping losses triggered a chain reaction in prices, further helping Bitcoin break through key resistance levels and initiating a new round of strong upward movement.
It is worth noting that this surge of Bitcoin is quite "unusual." In the absence of significant positive news in the market, Bitcoin was able to break through strongly, completely relying on the strong momentum provided by short covering.
From the liquidation map, several key price levels became the "targets" for bulls to attack, with a large number of shorts being forcibly closed at these positions, allowing the bulls to continuously expand their gains and pushing Bitcoin's price to soar.
With Bitcoin's fierce upward momentum, the overall sentiment in the cryptocurrency market has been completely ignited, and mainstream altcoins and tokens have also followed suit in rising, resulting in an overwhelming profit effect in the market.
