Zhitong Finance APP learned that $Bitcoin (BTC.CC)$ On Wednesday, Bitcoin staged a sudden, strong rebound, reaching an intraday high of $70,059.9, its highest level since early June, while recording its largest single-day gain since March. As the market sentiment reversed rapidly, a large number of short sellers were forced to cover their positions, triggering the largest wave of Bitcoin short liquidations since records began in 2021.

According to data from Coinglass, over $1 billion worth of Bitcoin short positions were forcibly liquidated within approximately one hour. Prior to this, Bitcoin had experienced…