Bitcoin Breaks Above Consolidation Range, Shorts Get Trapped

Bitcoin's price has surged 6.2% to $77,393, breaking out of a multi-week consolidation range and leaving bearish leverage trapped on the wrong side.

The move was accompanied by a major liquidation wave, with over $865 million in BTC positions wiped out, heavily skewed toward shorts.

With momentum approaching the $80,000 mark, the focus shifts to whether Bitcoin can convert this breakout into a sustained trend move.

A clean breakout above $84,000 would establish a significantly stronger bullish structure and open the door to the next major overhead zone near $96,000-$98,000.