Bitcoin Surges Past $80,000, Triggering $180 Million in Short Liquidations

Bitcoin price climbed above $80,000 for the first time in over ten days, following a market rebound after recent US Federal Reserve rate hikes and legislative setbacks. The rally triggered significant liquidations, with CoinGlass data showing $192 million in over-leveraged positions wiped out in the past hour, $183 million of which were short positions. Altcoins including Ethereum and XRP also saw gains, with Ethereum reclaiming $2,550 and XRP rising above $1.35.