Fidelity’s Jurrien Timmer, writing days before the move, had bitcoin floundering around $65,000 with no visible catalyst in either direction, though he guessed that a rising tide in gold would eventually take bitcoin and ethereum with it. The band snapped on Thursday morning. Bitcoin added roughly $4,400 in fifty minutes, touching $69,500 and liquidating about $1.1 billion of shorts inside an hour. It might’ve been the largest single-day short liquidation in bitcoin’s history. By Thursday morning, bitcoin was near $72,000, up more than 7% on the day and roughly 12% on the week. Ethereum did better still, opening Thursday up …


