<p style="text-align: justify"><a href="https://en.coin-turk.com/binance-announced-blocks-remaining-until-the-next-bitcoin-halving-fell-below-100000/" rel="noopener noreferrer nofollow">Bitcoin</a> surged past the $80,000 mark, rebounding after a brief dip to $75,600. The recovery was driven by renewed buying activity, with data showing that short covering and fresh inflows into spot Bitcoin ETFs played significant roles in the move.</p>
<h2 id="short-squeeze-drives-bitcoin-rally">Short squeeze drives Bitcoin rally</h2>
<p style="text-align: justify">In the last 24 hours, Bitcoin climbed over 3% to approximately $80,300. Ether performed even better, adding around 5% to trade near $2,421, underscoring strength across much of the major cryptocurrency market.</p>
<p style="text-align: justify">A sharp short squeeze appeared to fuel the bounce, as CoinGlass reported liquidations of about $378 million in short positions within a single hour. Total liquidations during the session reached nearly $747 million.</p>
<blockquote>
 <p>On-chain data from CoinGlass revealed that, at the height of the rally, $378 million in short positions were cleared out within an hour, marking one of the most intense waves of liquidations in recent months.</p>
</blockquote>
<p style="text-align: justify">Spot Bitcoin ETFs, which had seen sizeable outflows over the prior week, showed signs of stabilization. After losing approximately $1.16 billion from October 30 to November 3, the products attracted a $74.6 million net inflow on November 4. Despite the improvement, BlackRock’s IBIT still posted a net outflow of $201.2 million that same day.</p>
<p style="text-align: justify;background: linear-gradient(135deg,#ffffff 0%,#fffdf9 100%);border:1px solid #f1e4d8;border-left:4px solid #F69434;padding:14px 16px;border-radius:12px;color:#1e293b;font-size:15px;line-height:1.7">Mini dictionary: Spot Bitcoin ETFs are exchange-traded funds designed to track the price of Bitcoin and allow investors to gain exposure to the cryptocurrency without directly owning BTC or navigating digital wallets.</p>
<table style="border:1px solid #f1e4d8;padding:8px">
 <thead>
  <tr>
   <th>Metric</th>
   <th>October 30–November 3</th>
   <th>November 4</th>
  </tr>
 </thead>
 <tbody>
  <tr>
   <td>ETF Net Flows</td>
   <td>-$1.16 billion</td>
   <td>+$74.6 million</td>
  </tr>
  <tr>
   <td>IBIT Net Flow (BlackRock)</td>
   <td>N/A</td>
   <td>-$201.2 million</td>
  </tr>
  <tr>
   <td>Total Short Liquidations</td>
   <td>N/A</td>
   <td>$747 million</td>
  </tr>
 </tbody>
</table>
<h2 id="analyst-perspectives-and-technical-picture">Analyst perspectives and technical picture</h2>
<p style="text-align: justify">Despite the rapid price rebound, some analysts remain cautious. CryptoQuant analyst CryptoZeno cited the Bitcoin Cycle Extremes Index, which currently sits at 15.8% on its 30-day average. According to CryptoZeno, this reading suggests the market correction might not be fully over.</p>
<p style="text-align: justify">Technically, buyers stepped in near the 200-day moving average in the $76,000 to $77,000 zone, helping Bitcoin recover above its shorter-term averages. The Relative Strength Index (RSI) improved to about 51, indicating better momentum, but not yet confirming a shift to a sustained uptrend.</p>
<blockquote>
 <p>CryptoZeno noted that while the rush to cover shorts drove the sharp recovery, the Bitcoin Cycle Extremes Index still points to lingering caution regarding further upside.</p>
</blockquote>
<h2 id="altcoin-performance-and-shiba-inu-s-struggle">Altcoin performance and Shiba Inu’s struggle</h2>
<p style="text-align: justify">Other major cryptocurrencies mirrored Bitcoin’s gains, with XRP, <a href="https://en.coin-turk.com/goldman-sachs-a-former-executives-exciting-predictions-on-crypto-coins/" rel="noopener noreferrer nofollow">Solana</a>, and BNB rising roughly 2% to 4% during the same period. <a href="https://en.coin-turk.com/shiba-inus-layer-2-network-shibarium-surpasses-100000-wallets-and-420000-transactions/" rel="noopener noreferrer nofollow">Shiba</a> Inu, however, failed to join the rally and continues to face notable selling pressure.</p>
<p style="text-align: justify">Shiba Inu currently trades near $0.00000475, well below its September highs around $0.00000620. The token has broken below its ascending support trendline and now remains under several key moving averages, which have shifted from providing support to acting as resistance. Nearest resistance zones are at $0.00000510 to $0.00000530, while stronger resistance is seen closer to $0.00000550.</p>
<p style="text-align: justify">The RSI for SHIB is approaching oversold territory, yet analysts see little evidence of robust accumulation. Technical signals indicate that a meaningful recovery for Shiba Inu will depend on a renewed surge in buying interest.</p>
<p>The post <a href="https://en.coin-turk.com/bitcoin-tops-80000-after-747-million-in-shorts-liquidated-shib-lags/" rel="noopener noreferrer nofollow">Bitcoin tops $80,000 after $747 million in shorts liquidated, SHIB lags</a> appeared first on <a href="https://en.coin-turk.com" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

Bitcoin tops $80,000 after $747 million in shorts liquidated, SHIB lags

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