**Bitcoin Rallies to $65,200 Amid Market Optimism**

Bitcoin (BTC) surged to $65,200, shaking off concerns over recent BTC transfers by the defunct exchange Mt. Gox. Data from Cointelegraph Markets Pro and TradingView shows BTC rebounding from a low of $62,410 on July 15 to an intra-day high of $65,240.

This marks the first time Bitcoin has traded above $65,000 since June 18. The move caught many short traders off-guard, leading to over $240 million in liquidations in the past 24 hours, with $126.84 million occurring in the last 12 hours alone.

Despite fears of sell-side pressure from Mt. Gox, traders remain optimistic. Analysts like Skew and Michael Van de Poppe suggest that the impact of Mt. Gox repayments has already been priced in, contributing to the current bullish sentiment.

Bitcoin's resilience is evident, but it needs to hold above $62,500 to sustain its recovery and aim for new highs.