Bitcoin Tops $80K, Triggers $220M in Short Liquidations — SkimNews
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- Bitcoin passed $80,000 after Monday's Wall Street open for the first time since May 15, gaining 3% on the day before pulling back following the European close, per TradingView data.
- Crypto short liquidations surpassed $220 million over the 24-hour window according to CoinGlass, with a band of bid liquidity centered on $76,700 positioned as potential downside support.
- Bitcoin rose 25% month-to-date, logging its strongest August performance since 2017 and increasingly diverging from bear-market norms.
- Trader Rekt Capital warned that the weekly close at the highs faces a 'real test,' pointing to the 50-week exponential moving average at $77,251 as the key threshold BTC must hold.
- BTC achieved its first weekly close above the 50-week EMA since November 2025; during the 2022 bear market, two closes above that trend line preceded a drop to cycle lows.
Why it matters: Bitcoin's return to $80K after a 100-day absence is a psychological milestone, but the 25% monthly surge hasn't ended the bear-market debate. With bid liquidity at $76,700 and the 50-week EMA at $77,251 acting as nearby stress tests, traders are watching whether this rally follows the 2022 pattern — where two closes above the EMA preceded a capitulation to new macro lows.
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