Bitcoin climbed above $80,000 on Monday, marking its first breach of the threshold since mid-May as buying interest accelerated following last week’s price surge.
The cryptocurrency’s advance pushed its 24-hour short liquidations to $220 million, data from CoinGlass showed, as bearish positions were unwound in response to the upward momentum. A key support level near $76,700 emerged as a focal point for potential downside protection.
Traders noted Bitcoin’s month-to-date gain of 25%, the strongest August performance since 2017, as a divergence from typical bear-market behavior. The move followed a weekly close above the 50-week exponential moving average at $77,251, a level last sustained in November 2025.
Analysts cautioned that the rebound’s durability remains unproven. Rekt Capital, a market commentator, highlighted the need for sustained strength to validate a shift away from bearish trends, noting that prior cycles saw temporary rallies fail before deeper declines.
The price action occurred against a backdrop of mixed sentiment, with some traders warning of potential downside risks emerging as early as September. Bitcoin’s recovery has also reignited debates over whether the asset is entering a new phase or merely experiencing a relief rally within a prolonged bear market.
