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BTC cleared $72K as $3B+ in shorts got wiped out — the second-largest liquidation event since 2021. Volume actually surged too, ~$91B, breaking a three-month lull. Spot demand looks like it's leading, not just leverage unwinding. Still below the 200-day average though, and ~44K BTC has flowed to exchanges — some holders cashing in. Jackson Hole next week is the real test. $BTC $ETH $SOL #BTCRallyOrSqueeze #AnthropicIPONears #PopMartEarningsWatch