Geopolitical tensions ease, market sentiment reverses in an instant, and Bitcoin just squeezed the shorts hard.

In just a few hours, over $270 million in short positions were liquidated, with price recovering from $68.5K to above $71K, and trading volume surging nearly 90%—this is a classic breakout signal.

The key level is $71K, which coincides with a previous resistance zone and moving average levels. Once firmly established, it opens up space above, with $75K to $80K basically forming a "vacuum zone."

The current market structure is straightforward:
Shorts are being squeezed, with remaining positions still at higher levels. Once the price continues to push up, it forces short covering, and the move accelerates rapidly.

But one thing must be clear: this rally is essentially driven by news sentiment.

If the situation reverses again and risk sentiment cools, price can easily retest $68K or even $65K.

To sum it up in one sentence:
It's not about being bullish or bearish right now—it's about whether the sentiment can sustain. If sentiment holds, $80K is just a matter of time.