Bitcoin briefly topped $81,000 on Tuesday, the highest level in three months, before settling back around $80,800. The move triggered roughly $138 million in short liquidations and $46 million in long liquidations, according to data cited by multiple outlets. The rally came as spot Bitcoin ETFs posted their fifth consecutive week of inflows, adding $154 million through Friday.
Short Liquidations Pile Up
The jump above $81,000 caught many short sellers off guard. Total liquidations across the market reached about $184 million, with shorts bearing the brunt. Bitcoin's move above the round number also pushed the Crypto Fear & Greed Index to 47, up from 29 a day earlier. Still, that reading remains in 'fear' territory — a sign that while sentiment has improved, traders aren't exactly euphoric.
ETF Inflows Slow but Keep Flowing
Spot Bitcoin ETFs brought in $154 million for the week ending Friday. That's a significant drop from the prior week's $824 million, but it still marks the fifth straight week of positive flows. Cumulative inflows now stand at $58.72 billion, with average assets under management of $103.78 billion. The slower pace suggests institutional demand is steady, not frantic.
Key Levels to Watch
Bitcoin is trading above $80,800 but remains capped below two major moving averages. The 100-week EMA sits at $82,352, and the 50-week EMA at $85,777. On the downside, support lies at $68,061 (200-week EMA) and $65,981 (a trendline level). Ethereum and XRP posted mild gains Tuesday, reflecting a broader improvement in sentiment across altcoins.
The next concrete test for bitcoin will be whether it can close above $82,352. A break through that level would open the door to $85,777. Until then, the rally has room to run — but the resistance is real.
