BTC breaks through $80,808 in the early hours, up more than 3% over 24 hours, then falls back to the $79,000 area for a tug-of-war.
This move is from 63,000 to 81,000—up 23% on the week. There are only two core fuel sources: spot ETF inflows have been positive for eight straight days, totaling about $2.8 billion, and short liquidations on a single day are around $2.7 billion.
But the Coinbase premium hasn’t turned positive yet, which means U.S. retail hasn’t really come back. As Nansen puts it bluntly: forced liquidations push the price up, but they only close out existing positions—they don’t create new demand.
Now Jackson Hole is the watershed. The dollar just logged its biggest weekly gain in four weeks, core PCE came in above expectations, and if the Fed is more hawkish than expected, a squeeze-driven rally could unwind overnight. Only a more dovish tilt would have a chance to challenge 81,200.
Do you think breaking above 80,000 means new demand has truly returned—or are shorts temporarily backing off?
This move is from 63,000 to 81,000—up 23% on the week. There are only two core fuel sources: spot ETF inflows have been positive for eight straight days, totaling about $2.8 billion, and short liquidations on a single day are around $2.7 billion.
But the Coinbase premium hasn’t turned positive yet, which means U.S. retail hasn’t really come back. As Nansen puts it bluntly: forced liquidations push the price up, but they only close out existing positions—they don’t create new demand.
Now Jackson Hole is the watershed. The dollar just logged its biggest weekly gain in four weeks, core PCE came in above expectations, and if the Fed is more hawkish than expected, a squeeze-driven rally could unwind overnight. Only a more dovish tilt would have a chance to challenge 81,200.
Do you think breaking above 80,000 means new demand has truly returned—or are shorts temporarily backing off?