Bitcoin Hits Make-or-Break Fibonacci Level Amid Liquidity Shock

The recent price surge of Bitcoin has reached a critical juncture as it approached the 0.618 Fibonacci level, where immediate overhead resistance overlaps.

This level is crucial in determining whether the price will continue to rise or drop below $57,800.

According to the source, the doubling of long-duration bond buybacks by the U.S. Treasury triggered a liquidity response, which accelerated with short liquidations.

The short squeeze was estimated at roughly $1.4B in four hours and $2.5B over 24 hours, indicating significant liquidity management rather than QE.