Bitcoin's Potential Surge: $138K in 18 Days?

Bitcoin's attempt at reaching all-time highs was met with selling pressure, leading to a plunge from $70,136 to $66,500 within seconds. The decline, less severe than Tuesday's correction, resulted in $240 million worth of leveraged derivatives trading positions being liquidated. Sell orders worth $70 million posed resistance once bitcoin topped $70,000, contributing to the price drop. Despite the reversal, the broader CoinDesk 20 Index was modestly in the green, and the market wasn't as frothy with leverage as before the previous flush earlier in the week.