Analysis: Bitcoin’s break above $65,000 means price is ready to enter $65,000-71,500 range

According to a Rekt Capital analyst, if Bitcoin breaks through $65,000, it will prepare to enter the range of $65,000-$71,500. If BTC rises to $71,500, the next important stage will be the high point of $73,649 reached on March 13th. However, a large number of short positions face the risk of liquidation at $71,500, meaning that many futures traders believe that the current price will not reach this level. According to CoinGlass data, about $1.47 billion in short positions will be liquidated at $71,500. Despite this, the confidence of futures traders has been restored in the past five days, with open interest (OI) (the total number of outstanding Bitcoin option contracts held by traders at a specific time) soaring 13% during the same period.