The market volatility from last night is still fresh in memory, which is quite rare. Bitcoin surged by 10,000 points overnight!
Everyone is speculating about the reasons behind this surge:
In the previous days, Bitcoin's price had been continuously declining, with fluctuations but ultimately dropping to around 78,000. Immediately after, there was a rebound of about 6,000 points that day, which was not accompanied by any significant positive news and was more regarded as a natural recovery after an oversell.
Last night, Bitcoin hovered in the range of 85,000 to 86,000, causing many short sellers to get trapped. At the same time, the market widely expected that Bitcoin would find it difficult to rise significantly again, so most people chose to short in the 85,000 to 86,000 range rather than go long. This just happened to provide an opportunity for the manipulators, who may have deliberately aimed to eliminate this batch of short positions.
More crucially, last night, positive news from Trump’s side directly pushed Bitcoin up to around 94,800, a result that surprised everyone.
In the end, the manipulators' strategy was highly successful, effectively clearing out all short sellers. Meanwhile, since many investors failed to get in on time, the resistance was greatly reduced when the manipulators pushed the price up, allowing them to easily elevate the price.
