Bitcoin $BTC surged from $62,800 to $79,500 in a single week, a 23% jump that marked the best weekly performance in more than three years. Behind this violent spike, it has never been the crypto community cheering itself on. It’s a precise resonance between macro liquidity and policy expectations.
The one truly handing the market a knife was the U.S. Department of the Treasury. Bessent announced that the scale of long-term Treasury bill and bond repurchases would be increased to at least double, directly pushing down yields on the long end of U.S. Treasuries. Money is always most sensitive at the first signal—once risk appetite rebounds, Bitcoin, as the most liquid “elastic” asset, was naturally the first to be snatched up. Right after that, Trump personally called crypto executives at the White House to push legislation, and the expectation of easier policy was ignited instantly.
But expectations alone can’t push prices up this aggressively. What truly drove the price into frenzy was the “flesh and blood” of the shorts. Previously, short positions in the market were already too heavily built up. Once price nudged past key resistance levels, it triggered a chain reaction of forced liquidations. In 24 hours, nearly 190,000 traders were liquidated, totaling over $1.3 billion in forced orders—most of them were shorts. This kind of squeeze is essentially shorts forcing lift for longs—self-reinforcingly pushing prices higher. On top of that, this week saw net inflows of more than one billion into U.S. spot ETFs; institutional “real money” provided the hardest possible foundation for this rebound.
Now the market is celebrating, but I’d urge you to stay calm and look at the full picture first.
Although this week’s rally was brutally strong, there’s still roughly a 40% gap from the historical high of $126,000. This kind of explosive weekly surge not only restores market confidence—it also plants the seeds for a sharp pullback. On the current board, the high-leverage long positions piling up are no different from the shorts from a few days ago. If the next issue comes with U.S. Treasury supply, or if the Federal Reserve doubles down and makes a few hawkish remarks that flips the liquidity narrative, these chasing high-leverage longs will be liquidated cleanly as well.
History has proven countless times: this so-called “strongest weekly gain” is never a safety cushion. It’s merely an alternative marker where risk density rises sharply in a short period. Being able to make money during a short-squeeze rally is a skill, but knowing when to lock in profits before liquidity turns around is the key to surviving this cycle.
#比特币创2023年3月来最强周涨幅
The one truly handing the market a knife was the U.S. Department of the Treasury. Bessent announced that the scale of long-term Treasury bill and bond repurchases would be increased to at least double, directly pushing down yields on the long end of U.S. Treasuries. Money is always most sensitive at the first signal—once risk appetite rebounds, Bitcoin, as the most liquid “elastic” asset, was naturally the first to be snatched up. Right after that, Trump personally called crypto executives at the White House to push legislation, and the expectation of easier policy was ignited instantly.
But expectations alone can’t push prices up this aggressively. What truly drove the price into frenzy was the “flesh and blood” of the shorts. Previously, short positions in the market were already too heavily built up. Once price nudged past key resistance levels, it triggered a chain reaction of forced liquidations. In 24 hours, nearly 190,000 traders were liquidated, totaling over $1.3 billion in forced orders—most of them were shorts. This kind of squeeze is essentially shorts forcing lift for longs—self-reinforcingly pushing prices higher. On top of that, this week saw net inflows of more than one billion into U.S. spot ETFs; institutional “real money” provided the hardest possible foundation for this rebound.
Now the market is celebrating, but I’d urge you to stay calm and look at the full picture first.
Although this week’s rally was brutally strong, there’s still roughly a 40% gap from the historical high of $126,000. This kind of explosive weekly surge not only restores market confidence—it also plants the seeds for a sharp pullback. On the current board, the high-leverage long positions piling up are no different from the shorts from a few days ago. If the next issue comes with U.S. Treasury supply, or if the Federal Reserve doubles down and makes a few hawkish remarks that flips the liquidity narrative, these chasing high-leverage longs will be liquidated cleanly as well.
History has proven countless times: this so-called “strongest weekly gain” is never a safety cushion. It’s merely an alternative marker where risk density rises sharply in a short period. Being able to make money during a short-squeeze rally is a skill, but knowing when to lock in profits before liquidity turns around is the key to surviving this cycle.
#比特币创2023年3月来最强周涨幅