Bitcoin Blasts Past $80K and a Fresh Short Squeeze Is On
Risk assets got a boost after the Fed raised rates 25 bps but signaled only limited further tightening, with the dot plot pointing to a 4.1% policy rate through 2027. Crypto had already been pressured by the Senate setback on the Clarity Act, but the Fed-driven relief rally accelerated, pushing Bitcoin back toward $80,000. Today’s move triggered more than $445 million in crypto short liquidations, including about $230 million in Bitcoin shorts. Bitcoin rose about 5.9% to roughly $80,846, recovering part of a still-large drawdown from its prior all-time high. Technical signals remain bullish: ADX shows a strong trend, the 50-day EMA is above the 200-day EMA, and a golden cross is in place. RSI is elevated but not overbought. Resistance is near $82,281, while support sits around $75,569 and then $68,858.
