Bitcoin crossed the $80,000 mark on Sunday for the first time since early February, breaking through a resistance level that had been holding the rally in check for months. The move came alongside a broad push higher in Asian equity markets, with BTC touching its highest price since February as investors recalibrated risk appetite across asset classes.
The Level That Wouldn't Break - Until It Did
For anyone watching the charts over the past two months, $80,000 wasn't just a round number. It was the densest liquidity cluster in the current market cycle - the price at which the largest concentration of leveraged short positions had been stacking up. Bitcoin spent the better part of two weeks grinding against $79,000 in late April, getting turned back repeatedly in what looked more like controlled containment than an organic market movement.
The April monthly close told the same story. BTC finished the month up roughly 14%, which sounds bull...
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