Bitcoin extended its rally past $77,000 after breaking above $70,000 and clearing $65,000, with a newer report from Scott Melker saying traders shorting the cryptocurrency lost a record $3 billion. Earlier liquidation data showed about $431 million in Bitcoin short liquidations, the largest squeeze since March, including $193 million on Bybit, $178 million on Binance and $60 million on OKX. The forced buying helped accelerate the breakout, but sustaining higher levels depends increasingly on fresh demand after bearish positions were closed. Bitcoin’s Regime Score had turned positive near $63,300 two days before the liquidation burst and strengthened toward 60% around $69,500, suggesting the market had begun improving before leverage amplified the move. Separately, a 7.1% daily gain pushed Bitcoin above the short-term holder cost basis near $67,100, prompting holders to send 44,300 BTC in profit to exchanges, their largest such transfer of 2026 and a potential supply test. The $431 million figure refers to the earlier Bitcoin liquidation breakdown, while the newer $3 billion estimate covers reported losses among Bitcoin short sellers and may reflect a broader or different measurement; the sources do not provide a direct reconciliation.