Bitcoin retakes $80,000 as 24-hour short liquidations surpass $220 million

Bitcoin climbed back above $80,000 on Monday, clearing a major psychological and technical level for the first time since mid-May. BTC/USD rose about 3% at the time of reporting before giving back some gains after the European session, as traders assessed the breakout rather than immediately chasing a clean trend. The move coincided with a sharp pickup in activity across leveraged markets. CoinGlass data showed total crypto short liquidations exceeding $220 million over the past 24 hours as Bitcoin pushed toward the $80,000 area—often a sign that crowded bearish positioning was forced to unwind during the advance. CoinGlass' liquidation heatmap points to support forming in the mid-$70,000s, with a notable bid-liquidity band centered around $76,700. Such clusters can help explain why pullbacks sometimes stabilize near specific levels, though they reflect reactive positioning and do not guarantee that support will hold. Market focus is now shifting from the rally itself to whether Bitcoin can sustain strength above reclaimed levels. Analyst Rekt Capital said the key question is whether the breakout has "staying power," noting that Bitcoin posted a weekly close at the highs: "Bitcoin has Weekly Closed at the highs. Now starts the real test." He added that if the move proves to be a bear-market relief bounce, a pullback could arrive as early as this week or within the next few weeks. A central technical reference remains the 50-week exponential moving average, which Rekt Capital placed near $77,251. He said Bitcoin has recorded its first weekly close above that trend line since November 2025, while also pointing to 2022 as a reminder that brief closes above major trend measures can fail without follow-through. Traders are expected to watch whether BTC can hold above $80,000 in coming sessions and whether weekly closes continue to validate the breakout. Near-term attention remains on the 50-week EMA around $77,251 and price behavior during any retracement toward the liquidation-related liquidity band centered at $76,700.