Bitcoin tops $80k as $694m liquidation wave fuels recovery toward $85k

Key takeaways Bitcoin (BTC) climbed above $80,200 on Thursday, extending its recovery after reclaiming the 50-day, 100-day, and 200-day Exponential Moving Averages (EMAs). US spot Bitcoin ETFs recorded $74.57 million in net inflows on Wednesday, ending three consecutive days of withdrawals. BTC faces its next major resistance at $85,000, while the 50-day EMA near $80,172 provides immediate support. Bitcoin (BTC) extended its recovery on Thursday, climbing above $80,200 as a wave of short liquidations and renewed inflows into US spot Bitcoin exchange-traded funds (ETFs) helped improve market sentiment. The leading cryptocurrency traded around $80,200 after closing above its major exponential moving averages during the previous session. The rebound followed heightened volatility across cryptocurrency derivatives markets, where approximately $694.40 million in leveraged positions were liquidated over 24 hours.

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