Bitcoin rebounds strongly, with the 24-hour gain nearing 8%. The price is approaching the $70,000 level and has set a new high for this phase. The market saw large-scale short liquidations, and the mass liquidation of short positions drove the rally. Overall market sentiment has warmed up, major coins are moving up in tandem, short-term volatility is intense, and the trend reversal happens quickly—be sure to manage risk carefully.