Bitcoin ($BTC) has surged above $62,000 following a 2% increase over the past hour. This rise has led to significant liquidations, with $360 million in Bitcoin shorts being liquidated. Additionally, a Liquidation Heatmap indicates that $23 billion of shorts could liquidate if Bitcoin reaches $75,000 on Binance. Onchain Bitcoin fees have also hit a 10-month low, suggesting a decrease in transaction costs.