Bitcoin rallies, nearing $80,000, as bears are liquidated! $210 million wiped out across 74,000 positions in 24 hours.

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The market turned red across the board on Monday morning. BTC rebounded over 12% from its April 13 low of $70,678, hitting a 24-hour high of $79,486 and approaching the $80,000 mark. ETH rose in tandem to $2,397, marking a 3.6% gain over 24 hours. Shorts were liquidated heavily, with $212M in total market liquidations over the past 24 hours, 83.6% of which—amounting to $177.28M—were short positions. The Fear & Greed Index rebounded from an April low of 12 (Extreme Fear) to 47 (Neutral), signaling a significant recovery in market sentiment. (Context: Trump cancels US-Iran talks, claiming to have received a "better proposal": No military action resumed, BTC fluctuates narrowly around $77k) (Background: Is an ETH altseason coming? BTC dominance slips, ETH/BTC rebounds to a one-week high) BTC staged a strong counterattack on Monday morning, trading at $79,377 as of 9:00 AM Taiwan time, with a 24-hour high of $79,486, just a step away from the $80,000 psychological level. This rebound traces back to the $70,678 bottom on April 13, representing a cumulative gain of over 12%, and reached a 14-day high of $79,397 at 09:06 today. ETH also rebounded from its April 13 low of $2,183 to trade at $2,397, up 3.6% in 24 hours. Notably, ETH has yet to reclaim its April 18 peak of $2,451; bulls need to break through this resistance to confirm the trend. The bullish counterattack has come at a heavy cost to shorts. According to CoinGlass data, 74,375 traders were liquidated across the market in the past 24 hours, totaling $212.09M. Short liquidations accounted for $177.28M (83.6%), while long liquidations were only $34.85M. More notably, data from the last hour shows $62.20M in liquidations, with shorts accounting for $59.05M (up to 95%), indicating a concentrated sweep of short positions in the short term. The largest single liquidation occurred on the Binance ETHUSDT contract, totaling $11.98M. The rebound did not happen in a vacuum; it was driven by several bullish factors. First, geopolitical risks have cooled. Last week, Trump announced the cancellation of US-Iran nuclear talks, claiming to have received a "better proposal." While the market initially feared an escalation, the US did not resume military action. Reports this week suggest both sides may hold talks in Pakistan, easing risk-off sentiment and benefiting risk assets broadly. Second, BTC spot ETFs continue to attract capital. As of April 23, US BTC spot ETFs have seen net inflows for eight consecutive trading days, totaling $2.1B. Total assets under management have surpassed $102B, with cumulative inflows exceeding $58B, reflecting steady institutional entry. Capital rotation into ETH is another highlight. ETH spot ETFs saw $187M in net inflows last week, the strongest weekly record since 2026. Analysts point out that this reflects market capital gradually spreading from BTC to ETH. In the US stock market, the S&P 500 rose 0.8% to 7,165 points and the Nasdaq rose 1.6% to 24,837 points on Friday, April 25, both hitting all-time highs (Intel surged 23% in a single day), with positive sentiment spilling over into the crypto market. Solana (SOL) is currently trading at $87.68, up 1.89% in 24 hours, with a high of $87.85. It remains some distance from its April 18 peak of $90.32, and bulls need to hold the $85 support in the short term. XRP is trading at $1.4429, up 1.54% in 24 hours, with a high of $1.4443; the April 17 peak of $1.50 serves as a near-term resistance reference. Market sentiment has shifted significantly: the Fear & Greed Index reached 47 (Neutral) today,

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