Bitcoin surged above $70,000 on May 21 after intense buying pressure triggered a sharp price increase. Data from Cointelegraph Markets Pro and TradingView indicated that BTC/USD was striving to maintain its newly regained ground at crucial psychological levels. Bitcoin’s ascent towards the previous daily close was driven by significant buying liquidity, pushing the market close to $72,000. This surge dealt a heavy blow to short sellers, with $85 million in BTC shorts liquidated in the 24 hours leading up to the report, according to data from CoinGlass. Statistician Willy Woo commented on the situation, highlighting that bulls were confronting overhead
