Bitcoin Surpasses $80,000 as Leveraged Shorts Liquidated

Bitcoin broke the $80,000 barrier on Thursday, climbing to an intraday high of $80,808. The rally lifted the overall crypto market above $2.7 trillion, with most major assets posting gains.

Market Overview

The global crypto market capitalization rose more than 3% to $2.7 trillion. Bitcoin’s 24‑hour price increase was 3.5%, while trading volume reached $30.87 billion. Binance, Coinbase and Upbit were the most active exchanges for BTC trading.

Asset Performance

• Bitcoin (BTC) – up 3.5% to $80,808
• Ethereum (ETH) – up 3.33%
• Binance Coin (BNB) – up 2.5%
• XRP – up 6%
• Solana (SOL) – up more than 12%

Short Liquidations

Derivatives data from Coinglass showed $409.07 million in liquidations, with $280.05 million coming from short positions. Approximately 89,215 leveraged traders were liquidated, the majority on BTC and ETH shorts. ETH shorts lost about $106 million, while BTC shorts lost $78.88 million. The largest single liquidation occurred on Binance, where an ETH/USDT position of $12.4 million was wiped out.

ETF Inflows and Institutional Activity

U.S. spot Bitcoin ETFs recorded a net inflow of $232 million on August 26, marking an eighth consecutive day of net creations. Ether ETFs added $192 million in the same period. The continued inflows are cited as a key driver of the price rally alongside broader market sentiment.

Sentiment Indicators

The Crypto Fear & Greed Index moved from a “fear” reading of 29 last month to a “greed” level of 72, reflecting the bullish market tone.