Bitcoin tests $78,000 resistance as short-squeeze risks mount, altcoins rally

What Happened

Bitcoin trades near $78,000 resistance level, untested since January, with $180 million futures positions at liquidation risk between $77,000-$78,000. A breach above $78,000 could trigger momentum toward $80,000, while failure risks $71 million long position liquidation below $77,300. Improved U.S.-Iran relations sentiment boosted broader markets and cryptocurrency valuations.

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