Bitcoin Surges Past $70,000 Amid Massive Short Liquidations and ETF Speculations

Bitcoin surged past $70,000 on May 21 following intense buying activity that spiked its price upwards. Data from Cointelegraph Markets Pro and TradingView revealed that BTC/USD was striving to maintain its newly reclaimed position near critical psychological levels. Bitcoin’s price spike toward $72,000 was unexpected, driven by significant buy liquidity. This rapid increase dealt a heavy blow to short sellers, with $85 million in BTC shorts being liquidated in the past 24 hours, according to data from CoinGlass. Statistician Willy Woo highlighted that bullish investors were confronting overhead resistance that had persisted for over a month. “1 month of Bitcoin