$BTC bouncing off lows with both spot and futures CVD climbing alongside price — demand's back in the building. The real test is whether spot holds up and keeps pushing. If buyers reclaim $75k, all those shorts piled up the last few days turn into rocket fuel. That's the squeeze setup I've been watching for. Invalidation is simple: if spot participation dies and we lose these lows, the bid wasn't real. But right now, the structure's setting up clean for a rip if $75k flips.