Bitcoin Reclaims $80K: Short Liquidations Top $220M
Bitcoin (BTC) reclaimed $80,000 for the first time since May 15 after the Wall Street open. Price rose about 3% on the day, extending a sharp late-week rally.
Market stress eased briefly as 24-hour crypto short liquidations exceeded $220M, according to CoinGlass. A reported bid liquidity band around $76,700 could act as near-term support if BTC faces a pullback.
Analysts said the move needs “staying power” to invalidate the bear-market thesis. Rekt Capital highlighted that BTC achieved its first weekly close above the 50-week exponential moving average near $77,251 since November 2025. In the 2022 bear market, BTC made two weekly closes above that trend before later dropping to cycle lows—raising the risk this rebound could be a bear-market relief rally.
Traders also noted momentum: BTC was up roughly 25% month-to-date and posted its best August performance since 2017. Still, commentary suggested downside could re-emerge from September onward if price fails to hold these higher levels.
Neutral
BTC reclaiming $80K and $220M+ short liquidations are typically bullish for sentiment in the very short term, because forced covering can fuel upside. However, the article emphasizes that the key issue is whether BTC can hold above higher resistance—especially the ~50-week EMA around $77,251. Historical parallels (2022 bear-market action) show that closes above this trend line can be followed by renewed weakness if the rally lacks follow-through. That makes the setup mixed: supportive liquidity/flows now, but elevated risk of a relief-rally retracement if BTC fails to sustain these levels into the coming weeks.