BITCOIN BACK NEAR $80,000 FOR THE FIRST TIME SINCE MAY

🔴 More than $4 billion in bearish crypto positions were liquidated as bitcoin ripped back toward $80,000.

CNBC reports bitcoin rose 2% Monday to just under $80,000, a level last seen in May. Ether gained 2% to about $2,500, its highest since January.

The setup was macro, not crypto. After the Treasury said it would double its purchases of longer-dated government bonds, yields briefly pushed lower. That revived appetite for risk assets like bitcoin and scarce assets like gold.

The result was a squeeze. Bitcoin gained more than 20% over three days, its largest such rally since 2023, with billions in short positions blown out on the way up.

Institutions came back too. Spot bitcoin ETFs posted $1.92 billion in inflows last week, the biggest weekly haul since October, when bitcoin hit its cycle peak.

The equity read-through: Strategy rose 2% and Strive 4%, while ether treasury names Bitmine and Sharplink gained 3% and 2%.

One caution. BTIG's Jonathan Krinsky pointed out bitcoin did something very similar in January 2023, surging about 20% in three days and breaking above its downtrend, before the rally faded back to the 200-day moving average.

Bridgewater founder Ray Dalio, meanwhile, warned major economies could face a debt crisis within the next several years and said investors should hold "a bit" of bitcoin.

📈 Are you buying this breakout, or waiting for it to fade like 2023?

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