Bitcoin Surges Past $80K Amid Record Short Squeeze

A historic short squeeze on August 19 triggered Bitcoin's rapid price surge past $80,000.

This marked the largest single-day short liquidation since 2019, with bears losing $1.74 billion as forced liquidations pushed the price upward.

The rally was sustained by U.S. spot Bitcoin ETFs adding over $2.2 billion in net inflows the following week.

However, Bitcoin now faces a critical resistance zone between $83,000 and $86,000, where long-term holders may sell or hold, posing a major test for further gains.