Bitcoin surpassed $80,000 for the first time since mid-May, hitting a peak above $81,000, representing a gain of over $16,000 from its starting point under $65,000 last Wednesday. This surge triggered over $260 million in short liquidations within four hours and $650 million in daily liquidations, with Bitcoin accounting for half of that amount according to CoinGlass. Analysts are now targeting short-term levels as high as $88,000. Key catalysts included the US Treasury Department announcement, the White House Crypto Summit, and renewed ETF appetite. Altcoins followed the move, with Ethereum nearing $2,500, XRP fighting for the $1.50 resistance, and Solana surging over 7.5% to trade above $100 for the first time in months.
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