Bitcoin Skyrockets Past $78K After Historic Short Squeeze

Bitcoin's price surged from around $60,000 to nearly $80,000 following a historic short squeeze that liquidated over $4 billion in bearish positions.

This rapid price increase marks a strong rally for Bitcoin, but it is not yet considered a confirmed bull market.

The cryptocurrency now faces critical resistance between $82,000 and $84,000, with investors advised to watch this key zone for confirmation before assuming the market structure has shifted.