Bitunix Analyst: Ceasefire signal triggers liquidation push, BTC tests $80k then returns to liquidity dominance

BlockBeats news, April 23, the market focus has shifted from geopolitics itself to “event-triggered liquidity.” After ceasefire-related signals were released, Bitcoin surged rapidly, at one point approaching the $80,000 threshold, accompanied by around $339 million in short liquidations, forming a typical liquidation-driven rally. This shows that the momentum in this round is not from active absorption of capital, but from passive squeeze-driven price extension.

From the external environment, U.S.-Iran negotiations still remain in the stage of “there is a window but no consensus.” Internal divisions in Iran and ongoing energy blockades continue, and macro risks have not been substantially resolved. This also explains why, after prices reached high liquidity levels, they failed to form trend continuation and instead returned to range-bound oscillation.

Structurally, the current zone above Bitcoin—about $78,000 to $80,000—is a clear area where liquidity and liquidations are concentrated, while the $73,000 to $75,000 range below continues to see absorption. After prices repeatedly and quickly penetrated key ranges and then pulled back, the essence is still that liquidity is triggered again and again, rather than a trend being established.

Overall, before policies and geopolitical risks are re-anchored, the crypto market continues to operate on a rhythm of “event → liquidation → reversion.” At this time, Bitcoin is not the starting point of a trend, but an indicator of whether funds are willing to take on risk.