Bitcoin Tops $80K as Crypto Short Liquidations Exceed $220M

Bitcoin surged past $80,000 after Monday’s Wall Street opening, reaching the level for the first time since May 15. TradingView data showed BTC gaining about 3% over 24 hours before retreating modestly after the European market close.

The rally triggered a wave of short liquidations across the crypto market. According to CoinGlass, leveraged bearish positions worth more than $220 million were liquidated over the preceding 24 hours. A concentration of bid liquidity near $76,700 could provide support if Bitcoin’s price reverses.

Bitcoin was up 25% month-to-date, putting it on track for its strongest August performance since 2017. However, analyst Rekt Capital cautioned that the rebound must demonstrate staying power, particularly as historical trends suggest crypto markets can weaken during September.

Rekt Capital identified the 50-week exponential moving average, currently around $77,251, as an important technical level. Bitcoin recorded its first weekly close above that trend line since November 2025, but traders will be watching whether it can sustain the breakout and challenge the prevailing bear-market outlook.