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● TRACKER Updated 19d ago · 8 sources tracked

'Altitude sickness can wait': Bitcoin's historic short squeeze, Bessent catalyst may signal bull-market reset, analysts say

Bitcoin reached $80,000 after a rapid rally wiped out three months of losses in a single week. The surge has stalled at the $80,000 mark as traders pause to await upcoming inflation data. Market sentiment has shifted to extreme greed during this climb, which analysts describe as a historic short squeeze. While some view the move as a bull-market reset linked to a Bessent catalyst, the current rally has paused after hitting a three-month high.

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  • ✓ Bitcoin reached the $80,000 mark.
  • ✓ The rally stalled at $80,000 as traders await inflation data.
  • ✓ Bitcoin hit a three-month high.
🛡️ Source Corroboration: 8 independent reporting domains (90% confidence) ⏱ Read time: ~2 min

What changed

Bitcoin climbed 3% to reach the $80,000 threshold and recovered three months of losses in one week.

Live updates

  1. Bitcoin Hits $80,000 as Short Squeeze Erases Three Months of Losses

    Bitcoin reached $80,000 after a rapid rally wiped out three months of losses in a single week. The surge has stalled at the $80,000 mark as traders pause to await upcoming inflation data. Market sentiment has shifted to extreme greed during this climb, which analysts describe as a historic short squeeze. While some view the move as a bull-market reset linked to a Bessent catalyst, the current rally has paused after hitting a three-month high.

    Why it matters

    The rapid price recovery suggests a significant shift in market positioning. Traders are now balancing high-greed sentiment against macroeconomic indicators. The stability of this price floor depends on the upcoming inflation reports.

    What is confirmed

    • Bitcoin reached the $80,000 mark.
    • The rally stalled at $80,000 as traders await inflation data.
    • Bitcoin hit a three-month high.

    Still unconfirmed

    • Extreme greed currently grips the crypto market.

    What to watch next

    • Release of upcoming inflation data
    • Price action following the pause at $80,000
    Sources used for this update (9)
    1. CNBC — Bitcoin jumps 3%, closing in on $80,000 as rally gathers pace
    2. Yahoo Finance — Bitcoin has just wiped out three months of losses in 1 week
    3. WSJ — Bitcoin Rally Pauses After Jumping to Three-Month High
    4. Morningstar — Why Bitcoin Surged to USD 80,000, and What May Come Next
    5. Bloomberg.com — Bitcoin Rally Stalls at $80,000 as Traders Await Inflation Data
    6. The Block — 'Altitude sickness can wait': Bitcoin's historic short squeeze, Bessent catalyst may signal bull-market reset, analysts say
    7. Investopedia — Bitcoin Reaches $80,000 Mark as ‘Extreme Greed’ Grips the Market
    8. Bloomberg.com — Watch Crypto Market: Is the Bitcoin Rally Sustainable?
    9. Yahoo Finance Singapore — Bitcoin rally stalls at US$80,000 as traders await inflation data
    confidence 90%
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