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Bitcoin Breaks $70k Despite Global Tensions
Bitcoin surged over 4% today, reaching an intraday high of $71,890. This rally comes as a surprise to many, as it occurred despite a strengthening U.S. dollar and recent geopolitical shocks in the Middle East. Analysts suggest a "short squeeze" is in play, as traders who bet on a market crash following the recent conflict were forced to buy back their positions. Bitcoin is currently testing a key resistance level at $72,000; a clean break above this could open the door to a new run toward $90,000.