"Bitcoin Surges Past $70K Amid Crypto Rally and ETF Outflows"

Bitcoin surged past $70,000, signaling a potential end to the recent correction for crypto markets, with analysts setting a $83,000 price target after the breakout from a consolidation pattern. The rally didn't trigger mass short liquidations, suggesting limited use of leverage to bet on falling prices. The resurgence extended to other cryptocurrencies, with Ethereum's ether, Solana, and Avalanche also posting gains. The uptrend is supported by central banks' dovish stances and historical performance during U.S. election years, potentially driving BTC to new all-time highs.