This potential deescalation acted as a major catalyst, instantly reviving investor appetite for risk assets. Faced with this geopolitical surprise<\/strong>, the markets reacted with a lightning fast bullish breakout<\/strong>, catching many short positioned traders off guard.<\/p>\n\n\n\n Indeed, the impact on the derivatives markets has been devastating. Data shows that liquidations of short<\/strong> positions (short sellers) have outpaced those of long<\/strong> positions (buyers) by a ratio of nearly 3 to 1 over the past 12 hours. This massive short squeeze<\/strong> acted as additional fuel, propelling the price of BTC toward new local highs.<\/p>\n\n\n\n From a technical analysis<\/strong> perspective, reclaiming $69,000<\/strong> is a strong signal. This level is a daily POC, and if it is flipped into support, Bitcoin<\/a> could target $72,000<\/strong> in the coming weeks, or even $76,000 to $78,000.<\/strong><\/p>\n\n\n\n Momentum indicators, such as the RSI (Relative Strength Index), show that the trend still has room to grow. Oversold conditions were reached in February, while the overbought territory has yet to be explored. Furthermore, Bitcoin has, for now, bounced off its daily order block. This is a sign that smart money has defended this area.<\/p>\n\n\n\nIs Bitcoin’s key support out of danger?<\/h2>\n\n\n\n
![\"Bitcoin](\"https:\/\/media.investx.fr\/wp-content\/uploads\/sites\/5\/2026\/04\/06080804\/BTCUSD_2026-04-06_08-26-05-1024x764-1.jpg\")
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