Bitcoin's $80,000 Rally Shifts from Short Squeeze to Long Squeeze

Bitcoin experienced a brief dip below $78,000, triggering over $300 million in liquidations as traders locked in profits following a rally to $80,000. The initial surge was fueled by Treasury developments, ETF inflows, and a squeeze on bearish positions. Data from CryptoSlate indicates the asset fell to $77,870 before rebounding above $79,000.