Alert: $BTC
Hits $70,578 After $115M Short Squeeze — But Leverage Signals Caution
$BTC surged +4% from the $65K support, spiking to $70,578 before cooling near $69.9K. The move was fueled by over $115M in short liquidations across March 9–10.
Key metrics:
Binance leverage ratio dropped: 0.198 → 0.152 (strong deleveraging)
Futures open interest flipped negative
RSI recovered from 42 → 51 (momentum improving)
Price is holding above EMA9 at $68.4K — this level now acts as continuation support.
Next major resistance sits at $74K. Structure looks bullish after leverage flush, but follow-through depends on support holding.