$BTC just ripped through $75.5K — up 8.9% in a violent squeeze.

$783M in liquidations got wiped. Shorts absolutely demolished.

But here's the real question: Is this rally built on spot demand or just leverage flushing out?

Next 24-48hrs will tell. Watch for real buyers stepping in or we fade back into chop. Longs got their dopamine hit — now let's see if conviction follows.