Bitcoin Hits $80K, ETH Holds $2,500 as $378M Liquidations Hit
Bitcoin extended its rally into the weekend late session, briefly touching $80,000 and putting renewed pressure on highs. Ethereum also held firm around $2,500.
According to CoinGlass data, this sharp move triggered $378.06M in total liquidations over the past 24 hours, wiping out 85,388 traders. The biggest single liquidation cited was on Binance for the ETHUSDT perpetual contract, at $6.86M.
Bitcoin’s momentum is lifting market sentiment, but the liquidation spike signals crowded leverage—especially from short/overextended futures positions. Traders should expect volatility around $80K for Bitcoin and $2,500 for ETH, with potential profit-taking selloffs and “whipsaw” moves as stops trigger.
Near-term bias remains constructive while price holds these key levels, but liquidation-driven pops can reverse quickly if momentum fades.
Bullish
This news is bullish on price direction because Bitcoin pushing into $80K and ETH holding $2,500 suggests buyers are in control. The liquidation figure ($378M) often happens when a fast rally squeezes shorts and forces liquidation of leveraged positions—this can fuel further upside in the very short term.
However, the same event also increases fragility. Like prior “short-squeeze + liquidation cascade” moves, once the marginal shorts are cleared, upside momentum can slow and give way to profit-taking and volatility. Traders may see whipsaw around $80K (BTC) and $2,500 (ETH) as stop-losses trigger repeatedly and funding/positioning cools.
Longer-term impact depends on whether spot demand (not just leverage) sustains the breakout. If follow-through arrives, the move can become trend-setting; if liquidation-driven buying fades, the market may revert into a range or retrace to rebuild support.