BTC USD price rebounded over 7% to touch an intraday high of $69,487 on Thursday, driven by a cascade of short liquidations and renewed risk-on sentiment following Nvidia Corp.’s blockbuster earnings report. The strong reversal comes just 48 hours after BTC dipped below $63,000, creating a volatile environment that has wiped out over half a billion dollars in leveraged positions.
$NVDA just had its biggest Q/Q revenue growth in history and it says that data center revenue is now up 13x since ChatGPT was released pic.twitter.com/6H3DNh0jEJ
— Joe Weisenthal (@TheStalwart) February 25, 2026
The swift recovery to the $68,000 level signals a potential shift in market structure, as the leading cryptocurrency closely tracks surging tech stocks. Analysts suggest the move has cleared significant bearish leverage, potentially opening the path for a sustained BTC breakout toward the psychological $70,000 barrier.
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Short Liquidations Fuel $576 Million Flush
The sudden crypto market rally caught highly leveraged bearish traders off guard, triggering a massive liquidity flush. As prices rose, short sellers were forced to buy back assets to cover their losing positions, creating a feedback loop known as a short squeeze. Approximately $576 million worth of futures positions were liquidated across the market within 24 hours.
Coinglass Liquidation Map Source: Coinglass
Of this total, roughly $470 million stemmed from short positions, with Bitcoin-specific derivatives accounting for $227 million of the carnage. The magnitude of these short liquidations suggests that traders had aggressively positioned for further downside following the earlier dip to $62,000.
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Nvidia Earnings Serve as Risk-On Catalyst
While derivatives mechanics fueled the velocity of the move, the primary macro catalyst appears to be the ‘wealth effect’ spilling over from traditional equity markets. Nvidia Corp. (NVDA), largely viewed as the bellwether for the global AI trade, reported record-breaking earnings for Q4 of Fiscal Year 2026. The chipmaker posted quarterly revenue of $68 billion, a 73% year-over-year increase, calming investor fears regarding the sustainability of AI infrastructure spending.
The report lifted the Nasdaq 100 by 351 points and the S&P 500 by 56 points, reigniting a risk-on environment that historically benefits Bitcoin price action. With Bitcoin frequently serving as a liquidity proxy for global tech sentiment, the correlation remains a critical factor for short-term traders.
Nvidia’s performance has seemingly validated the broader tech structural thesis. As noted in recent market analysis, the company’s results acted as a barometer for the AI-fueled trade, restoring confidence in capital allocation across the tech sector and indirectly supporting risk assets like cryptocurrencies.
Bitcoin Technical Analysis: Can BTC USD Price Sustain $70K?
Bitcoin Price Analysis Source: TradingView
From a technical perspective, the reclaim of $68,000 is a significant development. The asset has established a higher low structure following the defense of the $60,000 support zone, a level that technical analysts have flagged as critical for the long-term bull trend. By holding above $68,000, Bitcoin is now testing the upper bounds of its multi-week consolidation range.
Momentum indicators are also recovering from oversold conditions. Just days ago, BTC USD price metrics suggested an exhausted sell-side, with some oscillators flashing deep value signals. As noted in previous analysis, when Bitcoin RSI hits deep value levels, it often precedes a mean reversion, which appears to be materializing in the current session.
The immediate resistance now lies between $69,500 and $70,000. A daily close above this zone would confirm a BTC breakout, invalidating the bearish thesis of a lower-high formation. Conversely, failure to hold $68,000 could see the price retest the liquidity grab around $65,000.
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BTC USD Rebounds Toward $70,000 on Nvidia Earnings Boost, Lifting Layer 2 Presales Like Bitcoin Hyper
Finally Bitcoin staged a strong recovery, surging over 7% after dipping below $63,000 earlier in the week. The rally cleared heavy bearish leverage and signaled a potential shift in structure. BTC USD now hovers around $67,000–$68,500, testing the psychological $70,000 barrier. Breaking above this level could provide some relief to bulls towards the end of February 2026.
The primary catalyst stemmed from Nvidia’s blockbuster Q4 FY2026 earnings report released February 25, posting record revenue of $68.1 billion (up 73% year-over-year) and adjusted EPS of $1.62, beating estimates. Data center revenue hit $62.3 billion (up 75%), reinforcing confidence in sustained AI infrastructure demand. This lifted tech indices and spilled over into crypto, where Bitcoin often acts as a high-beta proxy trade.
Benefitting from this renewed hype in the market are plays like Bitcoin Hyper (HYPER). HYPER is advancing as a pioneering Bitcoin Layer 2 solution, integrating Solana Virtual Machine (SVM) for high-throughput scalability while preserving Bitcoin’s security. The project enables rapid, low-cost BTC transactions, staking with up to 37% APY rewards, DeFi tools like DEXs, and on-chain dApps for payments, meme coins, and NFTs.
It uses rollups (optimistic and ZK) and sidechains to batch transactions, with a canonical bridge for trustless BTC deposits/withdrawals: verifying via SVM smart contracts and settling on Bitcoin L1.
The HYPER has raised over $31 million, with tokens at $0.0136762 in the current stage and planned increases ahead. Exchange listings are eyed for 2026.
As Nvidia’s results validate tech growth and Bitcoin clears bearish overhang, Layer 2 innovations like Bitcoin Hyper offer early exposure to enhanced Bitcoin utility before broader adoption.
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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Daniel Frances is a technical writer and Web3 educator specializing in macroeconomics and DeFi mechanics. A crypto native since 2017, Daniel leverages his background in on-chain analytics to author evidence-based reports and deep-dive guides. He holds certifications from The Blockchain Council, and is dedicated to providing “information gain” that cuts through market hype to find real-world blockchain utility.
