Bitcoin just wiped out $600 million in bets, triggering a “mechanical” loop that forces prices toward $100k

Bitcoin's price recently rallied above $95,000, reaching its highest level since mid-November, signaling a significant market structure shift rather than mere volatility. This surge was fueled by a convergence of strong spot demand, evidenced by $753.8 million in net inflows across US spot Bitcoin ETFs (led by Fidelity's FBTC), and forced buying from leverage fragility. This forced buying liquidated approximately $600 million in bearish crypto bets, creating a "mechanical" feedback loop where liquidations force further buying. Beyond immediate price action, the market is reacting positively to regulatory clarity, specifically the details of the US Senate's Clarity Act, which aims to integrate crypto assets into the US financial system. Trading firm QCP Capital noted a "Goldilocks environment" where risk appetite is returning across assets. Analysts suggest three potential scenarios for the coming weeks: a short-term range trade, a sustained flow-led grind, or a reflexive breakout toward six figures if large ETF inflows continue, supported by a stabilizing macro environment.

(Source：CryptoSlate)