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Bitcoin nears $80,000 as more than $4 billion in shorts are liquidated
Bitcoin climbed to $78,449 and, after US Treasury liquidity-support buybacks for 10- to 30-year debt, shorts were liquidated as spot BTC ETFs pulled in over $1 billion since Wednesday.
Bitcoin surged toward $80,000 on Friday, extending a three-day rally that pushed the token to a three-month high and helped wipe out more than $4 billion in bearish positions, according to CryptoSlate. Data cited by CryptoSlate showed Bitcoin rose as high as $78,449, gaining more than 10% over the prior 24 hours before easing to $77,873 as of press time.
CryptoSlate linked the rally to improving risk appetite after the US Treasury said it would at least double liquidity-support buybacks for 10- to 30-year government debt, which lowered long-term yields. The report also pointed to political and regulatory momentum, including a White House meeting where President Donald Trump hosted crypto executives and urged Congress to advance the CLARITY Act, as the SEC and CFTC moved ahead with additional industry-friendly proposals.
Institutional flows and derivatives positioning further amplified the move. CryptoSlate said SoSoValue data shows spot Bitcoin ETFs attracted more than $1 billion since Wednesday, while CoinGlass data showed more than $4 billion in Bitcoin shorts were liquidated since Wednesday as price moved from around $65,000 through $70,000 and above $75,000. CryptoQuant’s Bitcoin Bull Score Index also rose back to 60, its first return to bullish territory since October 2025, though CryptoSlate noted Alphractal CEO Joao Wedson remains skeptical that the rally signals a durable trend change.
Latest closeBitcoin $77,298.59 ▲5.8%