🚀 Bitcoin surpassed 75,000 USD, but the upward momentum may not be sustainable

🟢 Main developments: Bitcoin on March 17 reached nearly 75,900 USD, exceeding the 75,000 USD mark.

🟢 Important point: According to Coindesk, this increase is primarily not due to spot buying but mainly driven by the derivatives market.

⭐ Main reasons:

🟢 Short squeeze forcing shorts to close positions

🟢 Market makers hedge adding technical buying pressure

🟢 Warning: This may only be a short-term technical increase, not yet a confirmed signal of a sustainable uptrend.

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BTC

66,525.22

-0.07%