$BTC is back at $70K. Now comes the real test.
Bitcoin just pushed from around $64K to nearly $70K in one of its strongest moves in months.
But there’s an important detail behind the rally.
More than $2.7B in bearish crypto positions were liquidated, meaning part of the move was driven by forced buying from traders caught on the wrong side.
That doesn’t make the rally fake.
It just means I want to see whether real spot demand can keep $BTC above $70K after the leverage clears.
The levels I’m watching:
$70K = key breakout/support zone
$68K = near-term support
$65K = deeper support
If $BTC holds $70K and buyers continue stepping in, the market could start targeting the next major resistance around $71K–$72K.
And this move is already lifting the rest of the market.
$ETH has reclaimed $2K, while $SOL,
$XRP , $BNB and $HYPE are also benefiting from the renewed risk appetite.
For me, the next question is simple:
Did Bitcoin actually break out, or was $70K mainly a short squeeze?
I’m watching the retest.
$BTC $SOL $BTC #
#FOMC9To3Split
#BTCBreaks69000 #XiaomiQ2Earnings