On Tuesday, Bitcoin’s price soared beyond $76,000, reaching a four-week peak and showcasing its most significant price movement in recent weeks. This rally was fueled by a mix of geopolitical optimism, forced short liquidations, and robust institutional buying pressure. The surge started gaining momentum on the evening of April 13, as bitcoin pierced through a thick concentration of leveraged short positions located between the price points of $72,000 and $73,500. Once that resistance broke, short liquidations acted as the catalyst. In a dramatic turn of events over the last 24 hours, approximately $425 million in leveraged short positions in Bitcoin and Ether were liquidated, impacting 177,000 traders and resulting in a staggering total of $530 million in losses, as reported by data sources.
Analysts had highlighted this setup in advance. Options market data indicated that dealers are heavily positioned in “negative gamma” around the $75,000 mark — a scenario where market makers must buy as prices rise and sell as they fall. The $75,000 level served not as a conventional support or resistance zone, but rather as a volatility release point, with dealer hedging flows significantly amplifying the upward movement. On Tuesday, the geopolitical landscape experienced a significant shift as reports surfaced indicating that the Trump administration and Iran were progressing toward a potential agreement. A U.S. naval blockade of the Strait of Hormuz, which had pushed oil prices above $100 per barrel and impacted risk assets for weeks, is now showing signs of easing.
Institutional demand has significantly contributed to the momentum of this move. On April 13, Strategy’s STRC at-the-market preferred stock program achieved a remarkable milestone, surpassing $1 billion in single-day trading volume. Notably, all trading activity took place above the $100 par value necessary to initiate share issuance. Estimates indicate that the volume generated $796 million in proceeds — sufficient to facilitate the acquisition of approximately 10,834 BTC at an average price close to $73,400. The figure stands at over 24 times the daily Bitcoin mining supply after the latest halving event. The STRC program has successfully amassed over $3.5 billion in total proceeds thus far. Strategy possesses approximately 780,897 BTC, with a total investment of around $59 billion, solidifying its status as the foremost corporate Bitcoin holder globally.
Currently, shares of Strategy have surged more than 8% today, hovering around $143 per share. The upcoming resistance zone for Bitcoin’s price is located between $80,000 and $80,600, where favorable dealer gamma positioning may serve to temper momentum. The 200-day moving average is positioned close to a bitcoin price of $87,500, marking a critical threshold to monitor for validation of a genuine long-term trend reversal.