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

Analysis by cryptocurrency analyst Rekt Capital shows that Bitcoin's breakout above $65,000 means the price will be ready to enter the $65,000 to $71,500 range, and if BTC rises to $71,500, the next important stage will be the high of $73,649 reached on March 13. However, a large number of short positions are at risk of being liquidated at $71,500, which means that many futures traders believe that the price will not reach this level at present. According to CoinGlass data, at $71,500, about $1.47 billion of short positions will be liquidated. Nevertheless, confidence among futures traders has been restored over the past five days, with open interest (OI) (the total number of unexercised Bitcoin options contracts held by traders at a specific time) surging 13% over the same period.