#Gate13周年现场直击 【20260418】【Daily Observation】BTC surges past 78K to hit a new high for the current phase, macro easing drives a comprehensive rally in risk assets

1. Market and Structure【BTC】Current price: approximately 77,900
Trading range: 77,900
Structural judgment: Uptrend (continuation of breakout) Key levels:
Resistance above: $78,500
Support below: $74,000
【XAUT】Current price: approximately 4,880 24H range: approximately 4,900 Market performance: Strengthening at high levels (safe haven + liquidity resonance)
Summary of structure: BTC rising + Gold rising → Market enters a “risk and safe haven resonance bull market structure”
2. Capital and Market Behavior
1️⃣ Liquidation and Leverage
• Liquidations in the past 24 hours: approximately 78k+
• Short liquidations dominate (breakout-driven) • Liquidations in the last 4 hours: approximately $70 million

Conclusion: Uptrend still driven by continuous short squeeze 2️⃣ Funding Rate + Long/Short Sentiment
• BTC funding rate: approximately +0.01% (significantly rising)
Conclusion: Bullish sentiment begins to heat up
3️⃣ Open Interest (Market Leverage Scale)
• BTC open interest: approximately 192837465657483.91T USD (significantly increased)
Conclusion: Leverage funds are flowing back in full force
4️⃣ Institutions + On-chain Funds
• ETF funds continue to flow in
• Net outflow of BTC from exchanges increases Conclusion: Spot funds and leverage funds resonate together

Overall market conclusion:
Macro positive + short squeeze continues + leverage expansion
3. 24-Hour Crypto Market News
1️⃣ BTC rises to about 78,500, hitting a new phase high
2️⃣ Iran announces the Strait of Hormuz remains open, easing global energy supply concerns
3️⃣ Crude oil drops about 9%–11%, inflation expectations decline, risk assets rally across the board
4️⃣ Global stock markets hit record highs, risk appetite significantly rebounds
5️⃣ BTC rise synchronized with global risk assets, macro-driven characteristics evident
6️⃣ Market believes geopolitical tensions are easing, prompting reallocation of funds
7️⃣ US dollar weakens + interest rate expectations decline, supporting crypto and gold prices
8️⃣ Analysis indicates: current market belongs to a “macro-driven early bull market structure”