Bitcoin tops $82K, $145M shorts liquidated after CLARITY Act

Bitcoin climbed above $82,000 on May 14, reversing losses from the prior session and prompting about $145 million in short-position liquidations. Total crypto liquidations across exchanges and prediction markets were roughly $236 million. Bitcoin’s market capitalization rose to about $1.63 trillion.

The price had been stuck near $80,000 late on May 13 and early on May 14. Around 8 a.m. EDT on May 14, bitcoin gained about $2,000 over four hours, briefly topping $82,000 before trading near $81,500 by 1 p.m. EDT. The 24-hour gain was about 3.5%, and the broader crypto market cap moved close to $2.8 trillion.

Liquidations were concentrated on short positions, which made up about $145 million of the roughly $236 million wiped out. Short-term data also showed millions in long-position liquidations during the spike. On the prediction market Polymarket, the probability that bitcoin would reach $85,000 in May rose to about 56%.

Market participants pointed to the U.S. Senate Banking Committee’s advancement of the CLARITY Act as a factor reducing regulatory uncertainty for the crypto sector. Coverage of President Donald Trump’s planned visit to China also altered investor expectations related to trade and energy.

Traders were also reacting to U.S. inflation data, including a surprise rise in the producer price index. Market commentary linked part of that inflation surprise to disruptions in oil flows after the closure of the Strait of Hormuz.

Energy analysts and some lawmakers warned that the volume of crude taken offline means global oil markets are unlikely to fully normalize before 2027, even if diplomatic progress occurs. Traders will monitor inflation readings and oil prices for signs the Federal Reserve’s liquidity and interest-rate plans are being repriced.

Since the start of April, bitcoin has risen from just over $66,000 to the low $80,000s by mid-May. Traders identified the $82,000 and $85,000 levels as near-term technical targets.