Coinglass data shows that, as prices rose, total cryptocurrency liquidations over the past 24 hours reached $974.8 million. Short positions accounted for $575.48 million, or 59% of the total. BeInCrypto Markets data shows that Bitcoin rose 4.64% over the past 24 hours to $80,480. Total Bitcoin liquidations reached $396.04 million, with shorts accounting for 78.2%. The forced buying triggered by this rally may have largely subsided, and Bitcoin’s ability to stay above $80,000 will depend on fresh spot demand.