Bitcoin has successfully broken through the $78,657 resistance level, reaching a high of $82,822, confirming a predicted short squeeze scenario. This move was anticipated as BTC entered a liquidity zone between $79.5K and $81K, with potential extensions toward $82K. The rally was driven by significant short liquidations totaling approximately $535.16 million from May 4 to May 6, indicating a strategic absorption of liquidity and forced closures of short positions. Open Interest in Bitcoin derivatives rose from $26.50 billion on May 2 to $29.09 billion on May 5, before declining to $26.62 billion by May 8. The Estimated Leverage Ratio mirrored this trend, initially increasing and then decreasing as leveraged positions were closed. Despite the subsequent pullback, the Spot Taker CVD remained positive, suggesting the retracement was due to derivatives repricing rather than aggressive spot selling. The market now watches to see if Bitcoin can maintain this momentum and establish a sustainable bullish trend.