$BTC just triggered a sharp squeeze as $301.6K in short positions were liquidated near the $66,009 level, signaling a sudden bullish push that forced bearish traders to exit. Short liquidations act like rocket fuel — as positions close, automatic buy orders drive price even higher, accelerating momentum in a short time.
Over the past 24 hours, total BTC liquidations have climbed to $23.41M, highlighting intense volatility and heavy leverage across the market. This suggests traders were aggressively positioned, making the move more explosive once key levels broke. If buyers maintain control above this zone, Bitcoin could attempt a continuation toward higher resistance, but rapid pullbacks remain likely as the market stabilizes after the squeeze.
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