Bitcoin Returns to $80,000 for First Time in 100 Days
Key Takeaways
- •Bitcoin rose above $80,000 for the first time since May 15 before easing after the European close.
- •Crypto short liquidations topped $220 million over the previous 24 hours as the price advanced.
- •Bitcoin was up 25% month-to-date and logged its strongest August performance since 2017.
- •Analyst Rekt Capital said the market now needs to prove sustained strength to confirm the rally can last.
- •The 50-week exponential moving average near $77,251 is a closely watched level, while bid liquidity around $76,700 could provide support on a pullback.
Bitcoin (BTC) passed $80,000 after Monday’s Wall Street open as bulls built on last week’s sharp BTC price rally.
Key points:
- Bitcoin reached $80,000 for the first time since mid-May as bullish momentum accelerated.
- BTC price analysis says the market still needs to hold higher levels to challenge the bear-market thesis.
Bitcoin returns to $80,000 after 100-day hiatus
Data from TradingView showed BTC/USD moving above $80,000 for the first time since May 15, gaining another 3% on the day before pulling back after the European close.
Source: TradingView
The move was accompanied by an increase in crypto short liquidations, which exceeded $220 million over the 24 hours to the time of writing, according to data from CoinGlass. A band of bid liquidity centered on $76,700 could provide support if BTC price reverses lower.
BTC liquidation heatmap. Source: CoinGlass
Analyst says BTC rebound must prove it can last
Bitcoin was up 25% month-to-date, recording its best August performance since 2017 and moving further away from typical bear-market behavior. Earlier, Cointelegraph reported that some traders remained concerned that bearish history could still repeat, with downside potentially returning from September onward and triggering a final capitulation to new macro lows.
Related: BTC price loses 200-week trend line as 2022 repeats: Five things to know in Bitcoin this week
“Bitcoin has Weekly Closed at the highs. Now starts the real test,” trader and analyst Rekt Capital wrote in his latest market commentary on X.
“If this is a Bear Market Relief Rally, then Bitcoin could pullback as early as this week, or at least over the next few weeks. Now it’s all about Bitcoin proving sustained strength.”
Rekt Capital had highlighted the 50-week exponential moving average, currently at $77,251, as BTC price recorded its first weekly close above that level since November 2025. During Bitcoin’s 2022 bear market, BTC/USD posted two weekly closes above that trend line before falling to cycle lows. That makes the area around the moving average a closely watched reference point for traders assessing whether the latest advance can hold beyond a short-term bounce.
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