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Bitcoin Bulls Defy Middle East Turmoil: BTC Races Toward $65,000 as Short Squeeze Ignites

July 14, 202604:15 PM
Bitcoin Bulls Defy Middle East Turmoil: BTC Races Toward $65,000 as Short Squeeze Ignites

Bitcoin staged a massive intraday comeback, surging from under $63,000 to peak near the critical $65,000 resistance level. This 4.2% rally successfully pushed the total crypto market capitalization above the $2.3 trillion milestone, proving that bullish momentum remains intact despite global macroeconomic headwinds.

The sudden price action was largely driven by a collapse in short positions, triggering a squeeze that propelled BTC toward its recent highs. Even as geopolitical tensions escalate due to strikes in the Middle East, the market's ability to stabilize around $64,500 suggests a robust underlying demand for Bitcoin.

This is a summarized and adapted version by Artificial Intelligence. To read the complete original story, visit the official source.

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