Bitcoin (BTC) surpassed $80,000 after Monday’s Wall Street open as bulls built on last week’s snap BTC price rally.
Key points:
- Bitcoin reached $80,000 for the first time since mid-May as bullish momentum picked up.
- BTC price analysis warns that the market still needs to maintain higher levels to challenge the bear-market thesis.
Bitcoin bounces back to $80,000 after 100-day break
Data from TradingView shows that BTC/USD is pushing past $80,000 for the first time since May 15, having risen another 3% on the day before rebounding after the European close.
Source: TradingView
The move spurred a surge in crypto short liquidations, which surpassed $220 million in the 24 hours at the time of writing. Coinglass. A band of bid liquidity centers around $76,700, providing support against a potentially bearish BTC price.
BTC Liquidation Heatmap. Source: CoinGlass
Analyst: BTC Rebound Must Prove Staying Power
Bitcoin is up 25% month-to-date, seeing its best August performance since 2017 and increasingly diverging from bear-market norms. Earlier, Cointelegraph reported on concerns among some traders that bearish history could yet repeat, with the downside since September sparking 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 closes at weekly high. Now the real test begins,” trader and analyst Rect Capital wrote His latest market commentary on X
“If this is a bear market relief rally, Bitcoin could pullback as early as this week or at least in the next few weeks. Now it’s about proving Bitcoin’s staying power.”
Rekt Capital specifically looked at the 50-week exponential moving average, currently at $77,251, as the price achieved its first weekly close above it since November 2025. During Bitcoin’s 2022 bear market, the BTC/USD cycle achieved two weekly closes above that trend line before bottoming out.
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