#Gate广场四月发帖挑战 Today's Hot News
Market Dynamics: BTC Short Squeeze Rally, Tug-of-War at $70k
Early this morning, Bitcoin staged a "short squeeze" rally, breaking above $70k for the first time since March (peaking at $70,300), then the gains narrowed to the $69,000–$70k range. Mainstream coins like Ethereum and SOL also followed suit.
Liquidation Data: Approximately $314 million was liquidated across the entire network within 24 hours, with over 80k traders liquidated, predominantly long positions (about $145 million).
Driving Logic: Mainly driven by short covering triggered by geopolitical tens