High-leverage shorts crush 420 million! Bitcoin's triple deadly trap at $74,620

On April 17, Bitcoin repeatedly hovered around $74,620. Beneath the seemingly stable market, an epic harvest has already concluded: high-leverage shorts collectively liquidated, with over $420 million in related short positions wiped out in 24 hours, and this is only the first step of the whale's dual-directional squeeze.

The current rebound is essentially a precise short squeeze: after the price broke through $73,000, shorts in the $74,000–$75,000 range were forced to close, creating a positive feedback loop of "rally—liquidation—rally again." But the main players are not aiming to push the bull market higher; they want to eliminate high-leverage gamblers and collect bloodied chips.

Currently, bulls face three deadly traps: first, false macro expectations pricing—Federal Reserve rate cuts remain uncertain, and the market is prematurely betting on good news; second, whales are openly bullish but secretly bearish—large holders with 1,000–10,000 BTC are distributing over 20k BTC in a single day, dumping high-position chips onto chasing retail investors; third, technical divergence—RSI reaches 66.1, prices hit new highs but momentum continues to decay, sharply increasing the risk of a 10% correction.

The two critical lines in the battle between bulls and bears are now clear: strong support at $67,000–$70,000—losing this will trigger a chain of long liquidations; strong resistance at $76,800–$78,000—existing funds are unable to break through.

The market is no longer a one-sided bull trend. whales are shorting above $76,800 and waiting to scoop up spot below $67,000. Any high-leverage operation will ultimately become fuel on the candlestick chart.