Bitcoin News
By MikeT
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Bitcoin (BTC) has taken center stage in the financial world once again, triggering what could be the largest short squeeze of the year and signaling a potential turning point in…
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On April 23, Bitcoin surged past multiple key resistance levels, breaking through price barriers that had previously held strong throughout 2024 and early 2025.
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The movement of Bitcoin through the $92,000 to $94,000 range triggered a wave of stop-loss activations and margin calls.
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As of now, Bitcoin is trading near $93,800, having broken above several key exponential moving averages (EMAs), including the 50-day, 100-day, and 200-day levels.
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Looking at Bitcoin’s liquidation heat map, analysts note that resistance levels above the current price appear thin.
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Interestingly, even though the Relative Strength Index (RSI) is now approaching overbought territory, the momentum behind this rally remains strong.
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Until recently, market sentiment had been defined by caution, with low spot demand and persistent skepticism despite occasional rallies.
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Should Bitcoin maintain this trajectory, the April 2025 short squeeze may be remembered as the defining event that marked the end of the bear cycle.
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For now, all eyes remain on whether Bitcoin can sustain its momentum and challenge the $100,000 level—a feat that would further cement its resurgence in 2025.
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