Bitcoin jump reach $80,610; $452M–$462M short positions don liquidate
Bitcoin (BTC) shoot up to $80,610, di highest for almost 13 weeks, gain about 1.6% that day. The rally trigger something like $452M–$462M for crypto liquidations, mostly strong pressure on leveraged short positions. Analysts dey call am a “disbelief rally,” as sentiment don flip bullish after BTC clear previous downside levels.
Traders focus na for derivatives and key levels. Analysts talk say if e hold above $79,000 e fit open way go $84,000, where dem expect a CME futures “gap” to fill. If BTC break higher, exchanges fit see about $2.85B in leveraged short liquidations triggered. For Binance, CryptoQuant flag two unusually big back-to-back hourly BTC buy waves (reported $1.19B and $792M), meaning steady spot/buy-side pressure, though volatility fit rise.
Altcoins follow the strength: ETH up about 2% to around $2,367, XRP gain about 2% to above $1.41, and DOGE lead top-10 performance (~+3.5%). Overall crypto market value rise about 1.6% to nearly $2.65T. Other analyst targets include $86,000–$88,000 and maybe $90,000 if BTC keeps the breakout.
Bullish
BTC don break reach new about 13-week high near $80,610 and e dey show strong follow-through wey liquidation dey drive, wit analysts dey expect say e fit head go $84,000 (CME futures gap). Dem report say big BTC buy waves for Binance dey support steady demand, wey dey increase chance say dem go get more short squeezes if BTC hold above $79,000 and comot pass $84,000. Even though high volatility na risk and people dey call the move “disbelief rally,” the mix of catalysts (momentum + short squeeze mechanics + important overhead magnet) dey more supporting for BTC for the near term.