Bitcoin Breaks $80K, Triggers $220M in Short Liquidations
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- Bitcoin passed $80,000 for the first time since May 15 after Monday's Wall Street open, gaining 3% on the day before pulling back following the European close
- Crypto short positions worth over $220 million were liquidated over 24 hours, per CoinGlass data, with bid liquidity clustered around $76,700
- Bitcoin was up 25% month-to-date, posting its best August performance since 2017 and increasingly diverging from bear-market norms
- Trader Rekt Capital noted BTC achieved its first weekly close above the 50-week exponential moving average ($77,251) since November 2025
- Rekt Capital warned that if the move is a bear-market relief rally, Bitcoin could pull back as early as this week, writing: "Now it's all about Bitcoin proving sustained strength."
Why it matters: Bitcoin's return above $80,000 — paired with a 25% monthly gain and $220 million in forced short liquidations — means bearish positioning has been actively unwound. The $76,700 bid liquidity band is now the line in the sand: a break would validate the bear-market thesis analysts like Rekt Capital still warn remains alive.
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