Bitcoin Hits $80,000: Massive Short Squeeze and Institutional Buying Drive $96K Target
Key Takeaways: The squeeze was immediate, with over $150 million in shorts being liquidated in a single hour as bitcoin broke $80,000. Strategy, formerly Microstrategy, is set to report its Q1 2026 earnings on May 5. The firm paused bitcoin purchases at 818,334 BTC ahead of results, which analysts expect to show a significant unrealized loss tied to Q1’s price drawdown. Any change to Strategy’s accumulation posture could move sentiment quickly. The $80,000 level now becomes the first line of support, and a sustained hold gives bulls a credible path toward $85,000, where a further cluster of short positions still awaits.What to Watch Next
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