Surging past $79,000, Bitcoin wipes out billions in short positions while sparking fresh debate over whether a major market reversal has begun.
Bitcoin reached $79,000 on a $2.7B short squeeze and Treasury bond purchases, rallying from $63,000 in just one week. For tech portfolios, this signals leverage unwinding and potential bull-cycle start; resistance at $80k-82k determines if October's $126k peak reversal holds.
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Bitcoin climbs past $79,000 as a multi-billion-dollar short squeeze and US Treasury bond buying spark a major market rally.
Paul Hill
Neowin
@ziks_99 ·
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