Bitcoin Tops $80,000 as Short Liquidations Exceed $220M

Bitcoin climbed above $80,000 after Monday’s U.S. market open, marking the first time the cryptocurrency reached that level since May 15, data from TradingView shows. The price rose roughly 3% on the day before pulling back after the European close.

CoinGlass reported more than $220 million in crypto short liquidations over the previous 24 hours. A liquidation heatmap from CoinGlass showed concentrated short exposure being removed as prices moved higher.

Order-book data pointed to a band of bid liquidity centered near $76,700, which market participants identified as a likely area of support if selling resumes.

Bitcoin was about 25% higher month-to-date, its strongest August performance since 2017. Some traders cautioned that the gains need to be maintained over coming weeks to avoid a short-lived rebound.

Technical indicators showed Bitcoin closed the week above the 50-week exponential moving average for the first time since November 2025, with that moving average near $77,251. Analyst Rekt Capital wrote on X: “Bitcoin has Weekly Closed at the highs. Now starts the real test.” He added, “If this is a Bear Market Relief Rally, then Bitcoin could pullback as early as this week, or at least over the next few weeks. Now it’s all about Bitcoin proving sustained strength.”

Analysts recalled that during the 2022 bear market BTC/USD produced two weekly closes above the same trend line before declining to cycle lows.

Market activity around the $80,000 test included short squeezes that raised liquidation volumes and prompted profit-taking and short-term reversals after the European session. Traders and analysts said keeping weekly closes above the 50-week EMA and holding major support levels will be important for any sustained advance.

Price and liquidation data over the next several weeks will determine whether higher levels hold or whether lower prices return.