Bitcoin hits $80K as short liquidations pass $220M

The move matters less for the round number than for the positioning it cleared: a liquidation-driven push means the rally was partly mechanical, as forced short covering amplifies upside without necessarily reflecting fresh conviction. That distinction shapes who is exposed — late shorts absorbed the damage, while the analysts' caveat implies the bear-market thesis is tested, not yet broken. The open question is whether price holds above the threshold once liquidation fuel fades, since a retrace would suggest the breakout was flow, not a change in regime.