May 5, 2026
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BULLISH 📈 : Bitcoin hits $80,000 as short squeeze liquidates $302M bearish bets
Bitcoin tops $80,500. Shorts get squeezed.
Bitcoin spiked to $80,500, the highest since late January, then eased to ~$79,900. Other majors followed with sharp recoveries. Source: NewsBTC.
Derivatives saw heavy liquidations.
- $371M positions liquidated in 24h. Source: CoinGlass.
- $302M were shorts, 81% of total. Source: CoinGlass.
- BTC positions: $179M liquidated. Source: CoinGlass.
- ETH positions: $95M liquidated. Source: CoinGlass.
- BTC + ETH ≈ 74% of total. Source: CoinGlass.
This was a short squeeze. Sharp price moves triggered cascading liquidations. Reference: NewsBTC.