ETF re-flows → falling expectations of a Fed rate hike → the Ministry of Finance expands long-term bond repo operations → easing pressure on U.S. Treasuries → BTC breaks above 65.6K → shorts rush to stop out → $1B+ short liquidations → BTC instantly surges to 69K.
If BTC can continue breaking above 70,000, it may reach around 71,500, completing a concentrated cleanup of the major high-leverage existing short positions from the prior phase.
If BTC can continue breaking above 70,000, it may reach around 71,500, completing a concentrated cleanup of the major high-leverage existing short positions from the prior phase.