As Bitcoin broke through $66,000, analyst Brian from Santiment highlighted the influence of a large liquidation of short positions in this recent price surge. With upward momentum intensifying, the path for a breakout above $70,000 is becoming clearer. During this rally, the liquidation volume of BTC positions within DeFi recorded the second-highest level in the past 3 months. Historically, such liquidations have been followed by a 29% increase in BTC's price over a 20-day period, indicating a strong market rebound. As the price of BTC rises, open interest is also increasing, with traders eyeing $70,000 as a major breakout point. The imbalance between long and short positions can intensify, potentially laying the foundation for a bull market. Furthermore, funding rates on Binance, BitMEX, and other exchanges are likely to experience significant changes. If the current momentum continues, it's not improbable that BTC will break above $70,000 in the near future.