Bitcoin is surging on heavy ETF buying and a multi-billion-dollar short squeeze, but the fuel behind that rally is running low, so a short-term cool-off is likely even though the bigger trend is turning bullish.

• Wall Street money is pouring into Bitcoin ETFs, with over $600 million coming in on Thursday alone, the biggest day in weeks, and BlackRock taking most of it.
• Billions in bearish bets have been wiped out over the last three days, which pushed prices up fast.
• That squeeze is close to done — the trapped short positions that were pulling prices higher have already been cleared out.
• Bitcoin looks overheated in the short term, and the low $80,000 area is expected to be a tough ceiling.
• The longer-term picture is improving: a bullish signal on the weekly chart, last seen at the end of the 2022 bear market, is still in play, and Ethereum is on the edge of its biggest trend change in a year.

Outlook: Expect a few choppy or slightly lower days ahead, with the bigger recovery still expected to continue over the coming weeks and months.

## Bitcoin Levels

• **Bias:** Bullish over weeks and months, cautious over the next few days.
• **Buy / accumulate:** $73K–$75K on a pullback (old resistance now support), with $74K the key line.
• **Sell / take profit:** $80K–$82K, where resistance is expected.
• **Support:** $74K, broader zone $73K–$75K.
• **Resistance:** $80K psychological level, then $81K–$82K.
• **Targets:** $80K–$81K near term (small remaining liquidity there); weekly close above $80,000 flips the trend signal from bearish to bullish.
• **Invalidation:** Failure to hold above $74K on a candle close cancels the breakout.