Bitcoin

Wednesday

Bitcoin’s price revival that began last Wednesday culminated, at least for now, a few hours ago when the asset soared past $80,000 for the first time since mid-May and tapped a multi-month peak above $81,000.Analysts were quick to pick up the move and <a href="https://x.com/cryptorover/status/2092085053266571275" rel="noopener noreferrer nofollow">outline</a> the next short-term targets of up to $88,000. BTC’s surge also led to an increase in liquidated short positions as the total value exceeded $260 million in the past 4 hours.On a daily scale, the liquidations are up to $650 million, with the lion’s share coming from shorts again. Bitcoin is responsible for half of that amount, according to data from CoinGlass.<figure id="attachment_1446680" style="width: 100%" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2026/08/Screenshot-2026-08-25-074401.png" rel="noopener noreferrer nofollow"><img class="wp-image-1446680 size-full" src="https://cryptopotato.com/wp-content/uploads/2026/08/Screenshot-2026-08-25-074401.png" alt="Liquidation Data on CoinGlass" width="1362" height="485"></a><figcaption id="caption-attachment-1446680" class="wp-caption-text"> Liquidation Data on CoinGlass </figcaption></figure>Thus, the primary cryptocurrency gained over $16,000 from its starting point of under $65,000 last Wednesday to just over $81,000 earlier today.Some of the reasons behind this major resurgence include the US Treasury Department’s announcement from last week, the Crypto Summit in the White House, <a href="https://cryptopotato.com/institutional-demand-is-back-bitcoin-and-ethereum-etf-inflows-reached-10-month-high/" rel="noopener noreferrer nofollow">renewed</a> ETF appetite, and Jim Cramer. Oh, wait, the last one <a href="https://cryptopotato.com/the-real-reason-behind-bitcoins-mind-blowing-surge-to-80k-one-word-cramer/" rel="noopener noreferrer nofollow">might be a joke</a>.Some altcoins have followed BTC on the way up today, including ETH, which has neared $2,500 once again. Although the asset has soared by 32% in the past week, the $2,500 barrier appears too strong at the moment. XRP, on the other hand, fights for the $1.50 resistance.SOL has surged the most from the larger-cap alts today, pumping by over 7.5%. It now trades above $100 for the first time in months as well.The post <a href="https://cryptopotato.com/bitcoin-smashes-80k-as-260m-in-shorts-get-wiped-out-here-are-the-next-targets/" rel="noopener noreferrer nofollow">Bitcoin Smashes $80K as $260M in Shorts Get Wiped Out: Here Are the Next Targets</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.

Bitcoin Smashes $80K as $260M in Shorts Get Wiped Out: Here Are the Next Targets

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