According to ChainCatcher, cryptocurrency analyst Rekt Capital's analysis shows that Bitcoin's breakthrough of $65,000 means that the price will be ready to enter the $65,000 to $71,500 range. If BTC rises to $71,500, the next important stage will be the high of $73,649 reached on March 13. However, a large number of short positions are at risk of being liquidated at $71,500, which means that many futures traders believe that the price will not reach this level at present. According to CoinGlass data, at $71,500, about $1.47 billion of short positions will be liquidated.

Nonetheless, confidence among futures traders has been restored over the past five days, with open interest (OI) — the total number of unexercised Bitcoin options contracts held by traders at a given time — surging 13% over the same period.