Bitcoin Climbs Back Above $81,000, With $80,000 Back in Focus

Bitcoin rebounded sharply after Monday's dip, pushing back above $81,000 on Tuesday and putting the $80,000 mark back at the center of traders' attention, CoinDesk reported. After several unsuccessful attempts to break higher, BTC briefly slid under $79,500 before finding a floor near $78,400 and turning higher. In Monday's session, the price tested the $80,000 area twice but met heavy selling. The pullback amounted to roughly $1,500 and undercut the $79,500 support level, though selling failed to accelerate. By Tuesday, Bitcoin had recovered the $80,000 handle and extended gains past $81,000. The move higher also triggered short-covering. Lookonchain said that once BTC cleared $81,000, two short positions were fully closed, totaling 101 BTC, valued at about $8.14 million at the time. Profit-taking has also emerged among larger holders. Lookonchain reported that two wallets, believed to be linked to the same whale, closed Bitcoin long positions held for nearly two months, securing about $11.6 million in gains. Sentiment has strengthened alongside the rebound. The Bitcoin Fear & Greed Index rose to 74, placing the market in the "greed" zone. The near-term focus remains whether $80,000 can flip from resistance to support. A sustained hold above that level could allow the rebound to extend, while another breakdown would likely bring renewed volatility.