Bitcoin climbed from $62,700 to $79,500 over the past week, a 26.81% gain, analyst AliCharts said on the 22nd through his X account, formerly Twitter. He said the surge resembles rebound patterns observed at the end of the 2019 and 2023 bear markets. The analyst also identified forced liquidations of short positions, known as a short squeeze, as the starting point for the sharp advance.