Bitcoin Price Prediction: $500 Million in Short Positions Just Got Wiped Out — New Bull Market Starting?

Bitcoin might just triggered a major short squeeze that could affect price prediction.

Over the past 24 hours, roughly $575M in positions were liquidated, with nearly $500M coming from short sellers alone. Bitcoin accounted for a large share of that wipeout, as price surged toward $70,000 before pulling back slightly.

That forced buying accelerates the rally and creates the illusion of sudden strength.

However, analysts caution that liquidation-driven spikes do not automatically mark the start of a new bull cycle.

Open interest has fallen sharply, signaling broad deleveraging rather than aggressive new long exposure.

At the same time, exchange flow data shows no major panic selling on the drop before this bounce. Structural demand, though, has not clearly shifted upward either.

Bitcoin Price Prediction: Could This Rally Starts Bull Market?

Bitcoin just ripped from $64,000 straight into $71,000 like it was nothing. At first, it looked like real momentum, especially with that Jane Street news.

Price pushed right up to the top of the descending channel.

But that is exactly where it stalled. $71,000 acted as supply again, and sellers stepped in fast. Clean rejection. Now price is rolling over.

If BTC slips fully back inside the channel, the breakout attempt is dead. That puts $64,000 back in focus, and if that cracks, $60,000 becomes the next magnet.

If buyers defend the $65,000–$66,000 area and print a higher low, the move still has a chance to evolve. But until $71,000 is broken cleanly, short-term control stays with sellers.

Can This New Presale Run With Bitcoin? One Of The Most Anticipated Projects In 2026

Bitcoin Hyper ($HYPER) is a new presale., powered by Solana tech, basically makes Bitcoin way faster and cheaper to use without messing with its core security.

It turns Bitcoin from something you just stare at on a chart into something you can actually use, for payments, staking, apps, and real on-chain stuff.

And this is not just talk. The Bitcoin Hyper presale has already raised over $32 million, with $HYPER priced at $0.0136751 before the next bump.

Staking is offering up to 37% right now, which is hard to ignore.

If Bitcoin rips, Bitcoin Hyper rides that wave. If Bitcoin chops sideways, Bitcoin Hyper still benefits from network activity. Either way, it is not just sitting there waiting for the next candle.

If Bitcoin explodes, Bitcoin Hyper moves with it. If Bitcoin keeps moving sideways, Bitcoin Hyper still benefits from activity on the network. Either way, it is not just sitting there waiting for candles to move.

To buy HYPER before it lists on exchanges, simply visit the official Bitcoin Hyper website and connect a wallet (such as Best Wallet).

Visit the Official Bitcoin Hyper Website Here