Bitcoin price hits $80K as 24-hour crypto short liquidations pass $220M
Bitcoin climbed back above $80,000 after Monday’s Wall Street open, extending last week’s sharp rally. BTC/USD briefly rose about 3% on the day and returned to that level for the first time since mid-May. The move triggered more than $220 million in crypto short liquidations over 24 hours, while a cluster of bid liquidity around $76,700 could provide support if price falls. Bitcoin is up about 25% month-to-date, marking its strongest August since 2017, but traders are divided on whether the surge has lasting strength. One analyst said the market now faces the key test of sustaining weekly closes near the highs. A major level to watch is the 50-week exponential moving average around $77,251, which Bitcoin reclaimed for the first time since November 2025. If the move is only a bear-market relief rally, price could weaken in the coming days or weeks.
