Bitcoin Blasts Past $80K, Obliterates Over $450 Million in Shorts

Bitcoin's price surge above $80K wiped out over $452 million in shorts. This move marked a significant milestone, as it broke through the previous high since May. Bitcoin's seven-day gain reached around 25% before easing back below $80K.

The strong recovery was not limited to Bitcoin alone, with many other altcoins also showing notable gains. Zcash (ZEC) approached $900, and the crypto market as a whole surpassed $2.46 trillion in global market capitalization.

However, it's worth noting that not all assets fared well during this period. Harmony's exploit led to a record low for the token ONE, while Cardano whales took profits, causing ADA to slip.