Wave giant whale "pension-usdt.eth" has an open long position of 1000 BTC with a floating loss of over $6.5 million

As Bitcoin approaches $70,000, Strategy becomes the most shorted stock in the US, with $6 billion in short bets risking a blowout.

Bitcoin price rebounds to $68,000 to $70,000. Strategy company faces bearish pressure due to its high leverage coin-hoarding model, becoming the publicly traded company with the highest short-selling ratio in the United States. Despite holding a large amount of Bitcoin, market skepticism about its sustainability has led to a significant decline in its stock price, and the Bitcoin treasury concept within the industry has also cooled down. The future trend will depend on Bitcoin's trajectory and the market's reassessment of its asset allocation.

The crypto market's strong rebound triggered nearly $500 million in short liquidations, with Bitcoin and Ethereum leading the rally, signaling a key bullish trend

The cryptocurrency market has rebounded in the past 24 hours, with a total market capitalization increase of 4.29%. Mainstream assets like DOGE and ETH saw significant gains, and a short squeeze led to approximately $576 million in liquidations. The market will enter a deleveraging phase, and attention should be paid to spot demand and capital flows to confirm the subsequent trend.