Bitcoin surges to near $80,000 as short liquidations exceed $4 billion in two days
Bitcoin rose roughly 24% in a single week to nearly $80,000, marking its strongest performance since 2023. The surge liquidated nearly $4 billion in short positions across two days, and Bitcoin ETFs recorded inflows of $606 million on Thursday following more than $500 million on Wednesday. According to analyst Scott Melker, the rally cannot be explained by Treasury announcements, record short liquidations alone, or recent White House events — Melker characterizes the remaining momentum as genuine market buying pressure, arguing that investors who had waited for lower entry points are now driving the final leg of the move.
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This item is classified as Analysis. The price movements and liquidation figures are confirmed market data; Melker's causal interpretation of the rally's drivers represents his analytical argument, not an independently verified finding.
✓ Verified
- ✓Bitcoin rose approximately 24% in a single week. (Yahoo Finance)
- ✓Bitcoin price touched nearly $80,000. (Yahoo Finance)
- ✓Nearly $4 billion in short positions were liquidated across two days. (Yahoo Finance)
- ✓Bitcoin ETFs recorded $606 million in inflows Thursday and more than $500 million Wednesday. (Yahoo Finance)
- ✓This was Bitcoin's strongest weekly performance since 2023. (Yahoo Finance)
~ Interpretation
- ~The rally cannot be explained by Treasury news, record short liquidations, or White House events alone. (Scott Melker analysis, not independently verified)
- ~Real buying pressure from investors is driving the remainder of the price surge. (Scott Melker analysis, not independently verified)
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