Bitcoin (BTC) handed $80,000 after Monday’s Wall Road open as bulls constructed on final week’s snap BTC worth rally.
Key factors:
- Bitcoin hits $80,000 for the primary time since mid-Could as bullish momentum gathered tempo.
- BTC worth evaluation warns that the market nonetheless must maintain larger ranges to problem the bear-market thesis.
Bitcoin returns to $80,000 after 100-day hiatus
Knowledge from TradingView confirmed BTC/USD passing the $80,000 for the primary time since Could 15, up one other 3% on the day earlier than pulling again following the European shut.
Supply: TradingView
The transfer spurred an uptick in crypto short liquidations, with these passing $220 million over the 24 hours to the time of writing, per knowledge from CoinGlass. A band of bid liquidity centered on $76,700, probably providing help within the occasion of a downward BTC worth reversal.
BTC liquidation heatmap. Supply: CoinGlass
Analyst: BTC rebound should show endurance
Bitcoin was up 25% month-to-date, seeing its greatest August efficiency since 2017 and more and more diverging from bear-market norms. Earlier, Cointelegraph reported on considerations amongst some merchants that bearish historical past might nonetheless repeat, with draw back reemerging from September onward to spark a ultimate capitulation to new macro lows.
Associated: BTC price loses 200-week trend line as 2022 repeats: Five things to know in Bitcoin this week
“Bitcoin has Weekly Closed on the highs. Now begins the actual take a look at,” dealer and analyst Rekt Capital wrote in his newest market commentary on X.
“If it is a Bear Market Reduction Rally, then Bitcoin might pullback as early as this week, or no less than over the following few weeks. Now it’s all about Bitcoin proving sustained energy.”
Rekt Capital had eyed the 50-week exponential transferring common specifically, at the moment at $77,251, as worth achieved its first weekly shut above it since November 2025. Throughout Bitcoin’s 2022 bear market, BTC/USD achieved two weekly closes above that development line earlier than dropping to cycle lows.
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