Bitcoin shorts wiped out near $74500 as the market tests its own resolve
Bitcoin is trading around $74,500 on April 20, triggering a significant short squeeze across major derivatives exchanges including Binance, OKX, and Bybit. The move returns BTC to its previous all-time high range, with the halving cycle backdrop and continued institutional accumulation providing structural support. Whether the rally holds now depends on fresh spot demand stepping in after the short-side fuel has been spent.