Bitcoin Hits $76,290 Peak as $200M Shorts Risk Squeeze Above $75,500

Bitcoin surged to $76,290, testing resistance with $200 million in shorts stacked above $75,500, priming a potential short squeeze amid rising futures open interest and positive funding rates. The rally kicked off April 16 when BTC topped $75,450 on $186 million spot ETF inflows (BlackRock IBIT at $292 million) and easing U.S.-Iran tensions, sparking $225.5 million in liquidations—mostly shorts. Alts like Ether (above $2,380) and Solana ($88.65) are participating, but analysts caution true breakout needs stronger spot demand to absorb supply.