Bitcoin approaches $80,000, causing a massive liquidation of short positions.

Bitcoin rose by 4.4%, reaching around $79,100, approaching the $80,000 mark as the upward momentum continues to build. The continuous inflow of funds from Bitcoin ETF supports the current upward trend, with a net inflow of $1.54 billion over the past 6 days. At the same time, approximately $200 million worth of short positions were forced to close within the past 24 hours, further pushing up prices. Despite the recent rebound, Bitcoin's cumulative decline for the year is still around 11%.