Bitcoin rally tests $75,000 level in massive short squeeze

Bitcoin and other major cryptocurrencies rallied, with BTC briefly hitting $75,653, driven by approximately $485.6 million in short liquidations, indicating a squeeze-driven move. Analysts like Dominick John caution that such moves are typically short-lived without sustained demand. The rally is also supported by improving market sentiment, evidenced by the Crypto Fear & Greed Index moving out of "extreme fear," and strong institutional demand, including renewed inflows into U.S. spot bitcoin ETFs ($767.3 million last week) and stabilizing macro conditions easing geopolitical and oil inflation fears. While equities rose, oil prices climbed again amid Strait of Hormuz uncertainty. Experts agree the rally's durability depends on continued institutional flows and the evolution of macro risks, particularly oil prices and upcoming economic data.

(Source：The Block)