Bitcoin’s $80K Breakout Needs Spot Demand After Short Squeeze: Analysts

Bitcoin’s $80K breakout needs spot demand after short squeeze: analysts

Bitcoin has climbed nearly 24% from below $64,000 toward $80,000 as U.S. spot ETF inflows and forced short covering have fueled its strongest weekly advance since March 2023. Nansen senior research analyst Nicolai Søndergaard told crypto.news that Bitcoin has probably…

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

As 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 Nears $80K as ETF Inflows Boost Spot Demand

Bitcoin climbed sharply toward $80,000 as stronger spot demand and renewed institutional buying helped drive the latest market advance. The cryptocurrency was trading at around $77,477.47 in the latest update, after rising about 30% from the $63,000 area. The rally has coincided with a decline in open interest, suggesting that the move has not been primarily driven by increasing leverage in derivatives markets. Instead, the combination of rising…

Bitcoin trades above $78k, bulls eye $80k as liquidity and ETF demand fuel rally

Bitcoin BTC trades above $78,600 on Monday, rising approximately 2% over the previous 24 hours and extending last week’s 20% rally.The weekly rally was Bitcoin’s strongest performance in more than two years and pushed the cryptocurrency to an intraday high near $79,460.Improving liquidity expectations, stronger institutional demand, a more favorable regulatory outlook and widespread short covering supported the move.Bitcoin is now approaching th…