Bitcoin Hits $80K Milestone for First Time Since May Amid $220M Short Squeeze
Key Facts
In a move reflecting accelerating bullish momentum in the crypto market, Bitcoin surged past the $80,000 threshold for the first time since May. This milestone was triggered by a massive wave of short liquidations exceeding $220 million within a 24-hour period. According to reports, this price breakout coincided with sustained market optimism regarding the US Treasury's plans to inject liquidity through bond buyback programs.
The strategy led by Treasury Secretary Scott Bessent, dubbed the "Treasury Twist," involves utilizing a $1 trillion cash cushion to support market equilibrium by purchasing longer-dated debt. This maneuver is viewed by investors as a significant catalyst for risk assets, shifting the debt maturity mix in favor of liquidity. Per market data, these qualitative factors combined with the short squeeze have propelled Bitcoin to its highest level in months.
Looking at current price levels, traders are monitoring whether Bitcoin can establish $80,000 as a new support level following the recent volatility. Regarding the economic calendar, investors are focused on the upcoming UK and Eurozone CPI inflation data scheduled for August 19, which will provide further clarity on the global macroeconomic environment and its impact on digital asset sentiment.
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Update: This bullish momentum was further bolstered by Bitcoin recording a 28% gain during an eight-day consecutive rally. According to reports, robust inflows into Exchange-Traded Funds (ETFs) played a pivotal role in sustaining the $80,000 price level alongside other structural drivers.
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Update: Bitcoin extended its rally to surpass the $81,000 mark, reaching as high as $81,165 with a 4.5% 24-hour gain. This surge coincided with gold notching its best monthly performance since 1999, hitting its highest price level in over three months.
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Update: Alongside US Treasury structural factors, reports indicate that surging institutional demand through spot Bitcoin ETFs played a pivotal role in pushing the price back above $80,000. This increased capital inflow reflects a shift in investor risk appetite as the market absorbs new liquidity mechanisms.
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Update: Bitcoin further solidified its rally by booking a 25% gain, marking its strongest weekly performance since 2023. Simultaneously, Solana (SOL) saw a robust 27% rebound, successfully clearing the $100 psychological threshold to reach $102.50, signaling that the bullish momentum is broadening across major digital assets.
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Update: These gains were further bolstered by massive inflows into spot Bitcoin ETFs totaling $1.91 billion, contributing to a 23% price surge. This movement represents the cryptocurrency's largest rally in three years, signaling a significant shift in institutional investor confidence.
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Update: Bitcoin continued its bullish momentum, hitting a new August high of $79,989 and nearing the psychological $80,000 threshold. This move follows a period of resilience where the cryptocurrency staged a swift recovery from a temporary dip below $77,000 experienced over the weekend.
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Update: Bitcoin continued its upward momentum to break above the $79,000 level, showing resilience despite emerging geopolitical uncertainty. This rally occurred as President Donald Trump threatened 50% tariffs on Canadian automotive parts and steel starting in 2027, leading investors to maintain positions in digital assets as a hedge against global trade volatility.
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Update: Bitcoin extended its bullish momentum to break above $79,000 on the morning of Monday, August 24, 2026. According to reports, the price is currently encountering technical resistance near the psychological $80,000 mark as traders continue to react to federal liquidity plans.
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Update: Bitcoin extended its rally to reach the $79,000 level, fueled by a wave of short covering and a weakening US Dollar. According to reports, this upward momentum was further bolstered by robust demand for Bitcoin ETFs, which saw inflows reaching $1.9 billion, signaling increased institutional conviction.