Bitcoin Surges Toward $70K as $1.14 Billion in Crypto Shorts Get Rekt in an Hour

Bitcoin is surging toward $70K, triggering massive liquidations for short sellers. Reports indicate that between $1.14 billion and $1.23 billion in crypto shorts were wiped out within a single hour, including three Bitcoin whales. This upward momentum was sparked by a White House meeting with major crypto figures and softer signals from the Fed. Despite the rally, technical charts suggest that the pressure on bear traders may continue as the market remains volatile.