Bitcoin price hits $80K as 24-hour crypto short liquidations pass $220M

MarketsPublishedAug 24, 2026As BTC tops $80,000 for the first time since May, price analysis warns that the market still needs to sustain higher levels to challenge the bear-market thesis.Bitcoin (BTC) passed $80,000 after Monday’s Wall Street open as bulls built on last week’s snap BTC price rally.Key points:Bitcoin hits $80,000 for the first time since mid-May as bullish momentum gathered pace.BTC price analysis warns that the market still needs to sustain higher levels to challenge the bear-market thesis.Bitcoin returns to $80,000 after 100-day hiatusData from TradingView showed BTC/USD passing the $80,000 for the first time since May 15, up another 3% on the day before pulling back following the European close.Source: TradingViewThe move spurred an uptick in crypto short liquidations, with these passing $220 million over the 24 hours to the time of writing, per data from CoinGlass. A band of bid liquidity centered on $76,700, potentially offering support in the event of a downward BTC price reversal.BTC liquidation heatmap. Source: CoinGlassAnalyst: BTC rebound must prove staying powerBitcoin was up 25% month-to-date, seeing its best August performance since 2017 and increasing...