After a stressful dip below $66,000 earlier this week that triggered $177 million in long liquidations, Bitcoin has staged a recovery. It is currently trading around $68,752 (reaching as high as $69,836 in some markets). However, the recovery itself was a "short squeeze," forcing nearly $140 million in short positions to close. The market remains stuck in a tug-of-war between $65,000 support and $71,000 resistance. $BTC #GateSquare$50KRedPacketGiveaway
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The "Valentine's Bounce" Amid Volatility
After a stressful dip below $66,000 earlier this week that triggered $177 million in long liquidations, Bitcoin has staged a recovery. It is currently trading around $68,752 (reaching as high as $69,836 in some markets). However, the recovery itself was a "short squeeze," forcing nearly $140 million in short positions to close. The market remains stuck in a tug-of-war between $65,000 support and $71,000 resistance. $BTC #GateSquare$50KRedPacketGiveaway