Bitcoin returns above $80,000: a rebound that could accelerate?
Bitcoin rebounded by more than 4% and returned to $80,000 after several difficult sessions. While short sellers are experiencing massive liquidations, miners are not showing signs of widespread capitulation. Can the…
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https://cryptoast.fr/bitcoin-80000-dollars-shorts-liquidations-mineurs/
Bitcoin (BTC) is gaining momentum following the American mid-term elections, won by the Democrats. Up 4.01% over 24 hours, it is trading around $80,420 this Wednesday, after briefly exceeding $81,000.
However, the price of Bitcoin remains 36.2% below its all-time high of $126,115, reached on October 6, 2025.
This rebound comes after a test of important support. On Tuesday, Bitcoin closed below $77,700, a level close to the True Market Mean calculated by Glassnode, which measures the average acquisition price of economically active supply. BTC then fell to around $76,100 overnight before rising again.
Holding above these levels keeps the August uptrend in place.
Our latest Week on Chain report contains ten more analyses, including liquidation maps, options into year-end, midterms data and much more. https://t.co/nHZyFBV1Oq
The correction has weakened recent investors, with a growing share of bitcoins finding themselves in latent losses. US spot Bitcoin ETFs are also seeing significant withdrawals: according to data from Farside Investors, approximately $1.16 billion in net outflows were recorded over the three sessions from October 30 to November 3, including $643 million on October 30.
The rebound could now put traders who have bet on a continued decline in Bitcoin in difficulty. These investors open short positions, called shorts, often with leverage. When the price rises too sharply, their positions can be liquidated, that is to say closed automatically to limit losses. These liquidations lead to buybacks which can accelerate the rise in price. This is called a short squeeze.
According to CoinGlass data reported this Wednesday, approximately $378 million in short positions were liquidated in one hour across the entire crypto market, as Bitcoin returned above $80,000.
The next hurdle is around $84,000 to $85,000, an area where BTC has already stumbled several times. Glassnode also identified a concentration of sell orders and liquidation levels between $85,000 and $87,500. A crossing could cause new forced redemptions, but also come up against investors wishing to resell their bitcoins at equilibrium.
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- Cryptoast4 Nov, 17:48
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