Bitcoin climbs back to $62,000 as short sellers face heavy losses

The bears just got a wake-up call they didn't want. After crashing to a 21-month low earlier this week, Bitcoin didn't stay down for long, clawing its way back to reclaim the $62,000 level. It's a sharp reversal that's left traders betting against the market in the dust. Ethereum and XRP are riding the same wave, hitting fresh weekly highs as the broader market shakes off the recent panic. This isn't just a minor bounce; it's a aggressive squeeze on short positions that forced liquidations across the board. While the sell-off earlier in the week felt like a bottomless pit, the rapid recovery suggests buyers were waiting in the wings to scoop up discounted assets. The sudden shift in momentum has flipped the script on the week's initial gloom. Now that the immediate bloodbath has paused, the big question is whether the bulls can flip $62,000 from a hard ceiling into a solid floor.