Bitcoin Price Roars Past $76,000 as Short Squeeze Continues
By Micah Zimmerman
Bitcoin's price surged past $76,000 on Tuesday, hitting a four-week high fueled by a short squeeze with $425 million in BTC and ETH leveraged shorts liquidated over 24 hours, alongside geopolitical optimism from potential Iran ceasefire talks and institutional buying. Options data showed negative gamma positioning near $75,000, amplifying the upside via dealer hedging. Strategy’s STRC program generated $796 million in proceeds, funding purchases of approximately 10,834 BTC.
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