Bitcoin surged past $80,000 as institutional buying, tightening supply, and fading oil-linked inflation hedges boosted demand. Geopolitical de-escalation also improved market mood, pushing a broad risk-on move. While major altcoins saw volatility, the rally was further accelerated by roughly $270 million in short liquidations.
Bitcoin held steady around $77,000 on Wednesday, pausing ahead of the US Federal Reserve’s rate decision. Analysts say the next potential catalyst may be the April CPI report, which could quickly shift momentum. With price watchers focused on a possible move toward $80,000, traders warn it could ignite a major short squeeze if the breakout holds.
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