Just caught something interesting in the charts last night. BTC rallied hard from 74K to 78K in what looks like a textbook short squeeze situation. The US-Iran headlines probably triggered it, but the real action was underneath—forced liquidations everywhere.

In just 21 hours, we saw 357 million worth of shorts getting liquidated. That's a lot of panic covering happening at once. The thing is, this kind of move can look impressive on the charts, but it doesn't necessarily mean fresh money is flowing in. Could be mostly just traders closing positions and covering their shorts.

So yeah, a short squeeze can definitely rip prices up fast—that's undeniable. But here's the catch: it doesn't tell you much about whether actual spot demand is building underneath. The rally looks real on the surface, but whether it sticks around is another question. BTC sitting around 76K now, so we'll see if this momentum holds or if it was just a quick squeeze play.