Bitcoin climbs above $80,000, triggering $220 million in short liquidations

Bitcoin (BTC) surged past $80,000 on Monday morning, the highest level since May 15, after a rally that lifted the cryptocurrency 3% in a single session.

Market reaction

The price move triggered more than $220 million in short liquidations within a 24‑hour window, according to CoinGlass data. A liquidity band centered around $76,700 may act as support if the price reverses.

Technical outlook

Analyst Rekt Capital noted that Bitcoin closed the week above the 50‑week exponential moving average (EMA) of $77,251, marking the first weekly close above that level since November 2025. The analyst warned that the rally could be a short‑term relief move and that sustained strength is needed to challenge the prevailing bear‑market narrative.

Performance metrics

• Month‑to‑date gain of 25%, the strongest August performance since 2017.
• Bitcoin’s price is diverging from typical bear‑market patterns, though some traders remain cautious about potential downside from September onward.