Bitcoin Nears $70K as $1.14B in Shorts Liquidated

The scale of short liquidations shows positioning, not just sentiment, drove the move: a White House meeting and softer Fed signals gave the rally a macro-political backdrop it has lacked recently. That combination matters because it pulls crypto further into mainstream policy and rate expectations, affecting both leveraged traders and institutions weighing digital assets. Whether the momentum holds once the forced buying fades, and whether policy signals firm into something concrete, is the open question.