$BTC This surge is pushing toward 70,000—honestly, I’m a bit surprised. But if you look closely at the data, it’s mostly shorts being liquidated and pushed up. Spot and ETF flows haven’t expanded in sync. Historically, rallies like this tend to come and go quickly: once the leverage liquidations are over and there’s no new money to step in, the price is prone to pull back. I don’t think the bull market is over, but in the short term, this move feels more like an emotional repair rather than a trend reversal. If the next few days can hold around 68,000 and then break above 72,000, then I’d be willing to believe it’s actual spot buying stepping in; otherwise, it’s likely to just grind, or even fill the gap below. I won’t chase. For someone like me who plays spot, leverage-pushed rallies are safer to watch than to jump into. My core take is one sentence: this BTC bounce has mediocre quality—don’t be fooled by the candlesticks. Wait for the capital flows to confirm. As for those saying we should go straight to 80,000, I’ll put a question mark next to that for now.