Overnight Surge: How Bitcoin Gained 7.5% While Everyone Braced for a Drop
Executive Summary (TL;DR)
- Bitcoin: Surged 7.5% overnight, hitting a local high above 72,700.
- Ethereum: Gained 11%, returning to the zone above 2,270.
- Primary Factor: A sharp decline in market pressure combined with a massive short liquidation cascade.
From Deep Pessimism to a Rapid Recovery
The trading session on April 8 provided a textbook example of a “V-shaped recovery.” To begin with, it is important to remember that only a day earlier, the market was stuck in a pressurized accumulation phase. Bitcoin was testing the 67,700 support level, and the Fear and Greed Index indicated deep pessimism among participants. Furthermore, most analysts were seriously bracing for a continued correction toward lower levels.
However, the situation changed fundamentally within just…
