In the past 24 hours, Bitcoin$BTC
have led a powerful market-wide rally, triggering a massive $401 million in liquidations, with the majority being short positions. This unexpected surge has sent shockwaves through the crypto trading community, signaling a potential short-term bullish breakout.
📈 Market Snapshot (Last 24H):
Asset Price Change Current Price 24H Liquidations
BTC ▲ +4.8% $65,720 $181M (Shorts)
ETH ▲ +5.6% $3,480 $112M (Shorts)
Total Market ▲ +4.1% $2.52T $401M
The rally began with a sharp rebound in BTC after testing the $62K support zone. It quickly pushed above key resistance at $65K, triggering a wave of short liquidations. Ethereum followed closely, breaking above $3,400 and reigniting bullish sentiment across major altcoins.
📊 Technical Analysis:
BTC has flipped its 50-day moving average into support, with RSI crossing 60 — a bullish signal.
ETH is forming a potential cup-and-handle pattern, with a possible target near $3,750.
The total crypto market cap has reclaimed the $2.5 trillion level, indicating renewed investor confidence.
🧠 Market Sentiment:
Fear and greed indices are climbing toward “Greed,” suggesting traders are turning optimistic. However, analysts warn of potential volatility due to thin weekend liquidity and upcoming macroeconomic data.
With hundreds of millions liquidated and momentum building, short-term gains could continue — but traders should remain cautious of sudden reversals or whale activity.
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