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<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-surpasses-70000-with-sudden-price-surge/" data-wpel-link="internal">Bitcoin Surpasses $70,000 with Sudden Price Surge</a><br></p>
<p class="p1" style="text-align: justify">Bitcoin managed to trade above $70,000 on May 21 after continuous bids suddenly pushed its price up. Data from TradingView showed that the BTC/USD pair was trying to maintain its recently gained ground at key psychological levels. Bitcoin surprised in the previous daily close as repeated buying liquidity pushed the <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">market</a> to around $72,000.</p> 
<h2 class="p1" style="text-align: justify" id="bitcoin-impresses">Bitcoin Impresses</h2> 
<p class="p1" style="text-align: justify">As the largest cryptocurrency rose, <a href="https://newslinker.co/category/ai/" target="_blank" rel="noopener" data-wpel-link="exclude">data</a> from blockchain analytics platform CoinGlass showed that short sellers were crushed with $85 million worth of Bitcoin short positions being liquidated in the past 24 hours.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-353911 size-full" src="https://coin-turk.com/wp-content/uploads/2024/05/total-liq.webp" alt="" width="1426" height="400"></p> 
<p class="p1" style="text-align: justify">Commenting statistician Willy Woo noted that bulls had been struggling with overall resistance for a month or longer. Willy Woo commented on X:</p> 
<blockquote> 
 <p class="p1" style="text-align: justify">“A month-long accumulation of Bitcoin short positions has just been liquidated. One more step is needed to briefly squeeze all-time highs.”</p> 
</blockquote> 
<p class="p1" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-353910 size-full" src="https://coin-turk.com/wp-content/uploads/2024/05/btc-heatmap-scaled.jpg" alt="" width="2560" height="1509"></p> 
<p class="p1" style="text-align: justify">A bold prediction saw the result as $100,000 following a breakout on weekly timeframes. Popular trader Skew suggested that US spot Bitcoin exchange-traded funds might have a hand in this move, forecasting significant days ahead before the decision on US spot <a href="https://en.coin-turk.com/ethereums-performance-and-risks-highlighted/" data-wpel-link="internal">Ethereum</a> ETF funds. The ETH/USD pair traded around $3,700, with an 18% increase in 24 hours and a 25% rise over the week.</p> 
<p class="p1" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-353909" src="https://coin-turk.com/wp-content/uploads/2024/05/alpha-.webp" alt="" width="500" height="386"></p> 
<h2 class="p1" style="text-align: justify" id="what-awaits-bitcoin">What Awaits Bitcoin?</h2> 
<p class="p1" style="text-align: justify">Updating his followers while tracking new demand, popular trader and commentator Credible Crypto maintained a calm perspective. The renowned figure reiterated that Bitcoin’s price action faced significant resistance and was currently failing to overcome it, sharing the following statements:</p> 
<blockquote> 
 <p class="p1" style="text-align: justify">“No change in plan, we are facing significant resistance with a positive premium after a month and a half, and funding is at its highest since then, clearly indicating that these are not favorable conditions for a move to the highs.”</p> 
</blockquote> 
<p class="p1" style="text-align: justify">CoinGlass showed $70,630 as the most intense bid liquidity area below the spot price at the time of writing.</p> 
<p class="p1" style="text-align: justify"><img loading="lazy" decoding="async" loading="lazy" class="aligncenter wp-image-353908 size-full" src="https://coin-turk.com/wp-content/uploads/2024/05/coinglasss.png" alt="" width="1126" height="719"></p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/bitcoin-surpasses-70000-with-sudden-price-surge/" data-wpel-link="internal">Bitcoin Surpasses $70,000 with Sudden Price Surge</a></h5>

Bitcoin Surpasses $70,000 with Sudden Price Surge

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