Bitcoin Surges 7.9% to $77K as $1.2B Shorts Liquidated

This move is less about organic demand than about positioning: a $1.21 billion short liquidation cascade, not fresh capital, drove the bulk of the rally. That distinction matters for anyone holding or trading around this level, because squeeze-driven gains often retrace once forced buying exhausts. The Washington news flow supplied the trigger, but it remains a sentiment catalyst rather than a structural change. The open question is whether spot demand follows through after the liquidation fuel burns out, or whether this proves another positioning flush.