Bitcoin hits $80,000 why?

[NeuroticFish]

Unpopular opinion: Bitcoin hits $80,000 because the price decreased this year.

It looks like the crypto winter may have somehow ending about 2-3 months earlier than I expected.
So apart of the part (I won't argue about) that this is indeed a recovery and there's still some "work to do" until getting back to 120k+, something may have triggered this.
And it's probably a mix of factors, from the political ones in US to MSTR and other companies buying massively again. Probably a list of factors were building up momentum and the buys have "lit the fuse".


PS. It clearly looks great, such a growth so fast, but I'd still be careful/wary. Never forget that Bitcoin market is highly volatile and can easily trick you.

[MarryWithBTC]

So many responses within a short period of time. I'll go through all and respond where necessary.

what is driving this rally?

In my opinion, I think different factors must have acted as the catalyst which made price to pump the way it did, from your poll, there's no way I can pick just one option as the only factor that influenced the price of Bitcoin meanwhile all of these things just happened in the same period, that's why the price even showed the significant move, if it was just one factor that influenced the price, then we would not have seen such big move. I do believe that the huge amount of money that was liquidated from short position traders, the weakened dollar,  huge accumulation of more Bitcoin by investor, and the others factors contributed to the move we saw.

You are correct about this, this rally could the effect of combined catalysts - many things happening simultaneously. This means 2029 bull run will be so massive.

I remember last year or 2024 when different catalysts such as ETF approval, halving and Donald Trump effects moved the market.

[Silikiem]

Bitcoin hits $80k, after over 100days.

To me this is not just a usual price move, what is driving this rally?

Please use the poll above.

I think a lot has really happened within this past few days in the month of August in respect to  the price movement of Bitcoin. All of those aforementioned polls are either responsible for the sharp increase in price so it’s difficult to single out anyone in particular as to the reason why bitcoin crossed $80k. Bitcoin price movement is driven by so many factors both seen and unseen, known and unknown so we can’t really say this is a complete reason but so far from some experts analysis it is speculated that these factors played a major role towards the sudden sharp increase in price.

[Churchillvv]

So many responses within a short period of time. I'll go through all and respond where necessary.

what is driving this rally?

In my opinion, I think different factors must have acted as the catalyst which made price to pump the way it did, from your poll, there's no way I can pick just one option as the only factor that influenced the price of Bitcoin meanwhile all of these things just happened in the same period, that's why the price even showed the significant move, if it was just one factor that influenced the price, then we would not have seen such big move. I do believe that the huge amount of money that was liquidated from short position traders, the weakened dollar,  huge accumulation of more Bitcoin by investor, and the others factors contributed to the move we saw.

You are correct about this, this rally could the effect of combined catalysts - many things happening simultaneously. This means 2029 bull run will be so massive.

I remember last year or 2024 when different catalysts such as ETF approval, halving and Donald Trump effects moved the market.

This is not a guarantee that 2029 bull run will be massive, the catalyst happened as a coincidence and of course you should be aware that people run some kind of market turbulence buying way too much to achieve the said agenda and that could also contribute to the move of bitcoin but because all this are happening same time does not mean that bull run will be way too massive in an unrealistic way. so i suggest your bing your expectations a little bit to the normal level so that you don't get burned like the short traders in the market.  

[henmark]

It's only 20% higher than it was 1750+ days ago.

The denominator (USD) has been going worthless all along.

The price has been simply suppressed and we are long overdue for a proper upside repricing.

These are actually good points.
Still, the market rarely reflects true value but a mix, including some true value, lots of speculation based on real and fake news etc.

Regarding your statement about USD losing value: 100% true - it would be very cool to have a BTC price chart showing its real purchasing power over time.
The closest thing to that I found is this: https://www.samara-ag.com/bitcoin-cpi
If anyone has better resources, let me know!

It is not a good point, if you pick dates based on that, everything could look not that great. I can provide you proof that early days of 2023, the price was under 20k, around 16k dollars and in October of 6th we were at 126k dollars. That means, in 1007 days, bitcoin has gone from 16k to 126k which is a 687% increase in price. So as you can see, if you pick prices and dates accordingly, you could do a great job or a terrible job, and you can make it look amazing or look terrible, it is very easy to manipulate the dates like that.

In fact, if you look at it from top to bottom levels, you could see even a bigger fall as well, we are much lower than we were last year around the same times for example, in October we were 126k and in less than a few months ,ti went under 80k before, so we can say that it took very little to fall so it is bad. Is it though? Do you think ti is bad investment? Of course it is not, we know that, but if you look at dates alone, you could be manipulated.

[GeorgeJohn]

Bitcoin hits $80k, after over 100days.

To me this is not just a usual price move, what is driving this rally?

Please use the poll above.

Bitcoin price is increasing this days, but it doesn't mean that we are on a bullrun, but some people mistaken the recent increase of bitcoin as a bullrun, whereas, We are expecting the price to be above 80k before we can massively agree that bitcoin has broken the resistance, the price can retrace, theirs every tendency that it can happen...

[BitMaxz]

Bitcoin price is increasing this days, but it doesn't mean that we are on a bullrun, but some people mistaken the recent increase of bitcoin as a bullrun, whereas, We are expecting the price to be above 80k before we can massively agree that bitcoin has broken the resistance, the price can retrace, theirs every tendency that it can happen...

So you mean we are not in a bull run even if the price is creating a series of higher lows and higher highs?
Based on the announcement before the price goes pump and increase above $70k, there's announcement that approved by Trump.

There is a buyback operation that will start next month. It is not for crypto but it is for treasury bonds that indirectly affect crypto so if you understand that news, you should know that this is going to be bullish because this is a long-term push on the whole market. Investors are attracted to this kind of news; that is why it pumps early because it's guaranteed unless there's a global issue coming.

[knuckey]

I have given my opinion in the vote because of the effect of funds entering the Bitcoin ETF and the monopoly effect that you mentioned in the voting section, which are interconnected, which briefly increased the price of Bitcoin in a short time. This is not a normal movement but an extreme price movement. It's just that at this time it's difficult to determine whether it's bullish or temporary.

[MarryWithBTC]

To me this is not just a usual price move, what is driving this rally?

This is actually one of the most common "jumps" in bitcoin history and if you zoom out you'll see many of them in the past 17 years. Each time we enter a sideways accumulation market and get stuck there for a long time, we always see it be followed by a big jump like this. By all standards this was a very mild FOMO buy too.

A good example would be April 2025. Price was stuck in a sideways market and accumulation went up for about 2 months while price was stuck in the $80k range. Then on April 21, 2025 the price started breaking out and in a little more than a week it reached $98k.
Then there was a panic sell correction where price dropped real fast about $5k but the rally continued and by July we had the ATH at $120k+.

It's the same usual thing here too.
Price was stuck in $65k range for months.
The jump was sudden and in a little more than a week it reached $80k+.
Now we have a small panic sell correction.

Now, this is an established pattern and I remember it very well. It was stuck around $82k to $84k and it was so for several weeks until the big up move towards $100k.

Next? Maybe we see the rally continue and set a new ATH before the year ends. This time somewhere in $150k to $200k?

Now, there's not data to back this. Wait!, in the last cycle, we saw an ATH before halving...it's possible

What is the reason(s) for this rally?

Increased adoption!
Some events acted as catalyst too. In my opinion the US debt smashing through $40 trillion was a strong catalyst itself. A lot more people lost faith in fiat after that...
[/quote]
I thought adoption got to its peak with the ETF and Trump emergence.

[GeorgeJohn]

<..>

There is a buyback operation that will start next month. It is not for crypto but it is for treasury bonds that indirectly affect crypto so if you understand that news, you should know that this is going to be bullish because this is a long-term push on the whole market. Investors are attracted to this kind of news; that is why it pumps early because it's guaranteed unless there's a global issue coming.

I didn't dispute the fact that bitcoin will not be on bullish in future or in one month time...but I'm saying that bitcoin is not on bullish right now...the price just hits 80k today and also falls to 78k..so the resistance is not strong enough to say bitcoin is on the bullish..A common negative news of bitcoin, can make the market of cryptocurrencies and including bitcoin to decreases, so from perspective, bitcoin resistance will cross 80k and above or 85k before we can bitcoin is on the bullrun...

[EluguHcman]

Bitcoin hits $80k, after over 100days.

To me this is not just a usual price move, what is driving this rally?

Please use the poll above.

What do you mean by usual price move? the only familiar market exercises as I think is the 4 years event cycles where we've experienced the bear and the bull events heads up which had also been adapted to be market traditional moves.

I understand we are still in the bear and volatility had been gaining momentum to support liquidity which had spiked the pump of Bitcoin price but perhaps, the event doesn't seem unusual to me because in some terms in the past, the Bitcoin market had seen such cases that prices increases in the bullish style as the one we are experiencing now.

So I don't really see any strange spot in the market. Except for the fact that the temporary bull came on of sudden as volatility will always be unpredictable.
However, as Speculation goes around the internet, it is said that the moment Trump made the news about the Clarity Act.
That has also motivated institutions to buy more Bitcoins.

[Charles-Tim]

OP, if you look at the liquidation cascades we had the last days, weeks and month, both bullish and bearish, with some even hitting new record highs for a single day, it seems clear that market makers on/and big exchanges were hunting leveraged trades to bring in huge profits for them and the exchanges.    Im sure, we are still in a bear market,...  and this current rally atm seems to be just a bull trap. I strongly believe we will drop below ~$40k USD before or till october. *finger-crossed* 

If the market goes down again, that means we are still in a bear market, but right now we do not know. I also think that it is possible for bitcoin to get below $70000 again, but I do not know.

About the liquidation, that is normal. This is not the first time that people will get liquidated. But in the past, bitcoin market was not as high as this time, so more millions or billions dollars will get liquidated as the market grows.

If you compare gold marketcap, you will see how less volatile gold is, but more liquidation with higher volatility, but which is still far lower volatility if compared to bitcoin volatility.

[Zoomic]

It seems we're very invested in finding out one big reason when the recent pump can be as a result of several factors behind it.

The debt buyback news might have been the spark but for Bitcoin to break the 80k resistance after months not reaching it, the market still needed enough buyers.

After months of bullish trend, I'm not too surprised that a move like this happened once sentiment started changing.

What's concerning now if you ask me is if Bitcoin can actually hold around $80k and rally above it not just to touch the number.

[tabas]

I won't ask why but instead, I'll ask for more.

What do you mean by usual price move? the only familiar market exercises as I think is the 4 years event cycles where we've experienced the bear and the bull events heads up which had also been adapted to be market traditional moves.

She's said that it is unusual but to us, this is a simple and another day for bitcoin's nature of volatility. I think it's valid to think that despite we're in a bear market, there's a quick push and that's why she thought of it as something strange. But fret not, it's not unusual and basically bitcoin is just recovering from the quite average dump that it has got from the past ATH that it has got.

[laspol65]

Look, Bitcoin price has been able to move towards the highs after the last few months, now in this situation Bitcoin's phase is more likely to be temporary. Bitcoin price can be dumped at any time, because I think it has not been formed very strong poll because there is no bull season going on now.

What's concerning now if you ask me is if Bitcoin can actually hold around $80k and rally above it not just to touch the number.

If Bitcoin price is to rise permanently then it is still a long way off, so I agree with you. In this situation Bitcoin is unlikely to stay around $80k, I think Bitcoin price is most likely to return to its previous levels. However, it has now broken the $80k level, and the price is touching $78k.

[jahead]

OP, if you look at the liquidation cascades we had the last days, weeks and month, both bullish and bearish, with some even hitting new record highs for a single day, it seems clear that market makers on/and big exchanges were hunting leveraged trades to bring in huge profits for them and the exchanges.    Im sure, we are still in a bear market,...   and this current rally atm seems to be just a bull trap. I strongly believe we will drop below ~$40k USD before or till october. *finger-crossed*  

If the market goes down again, that means we are still in a bear market, but right now we do not know. I also think that it is possible for bitcoin to get below $70000 again, but I do not know.

About the liquidation, that is normal. This is not the first time that people will get liquidated. But in the past, bitcoin market was not as high as this time, so more millions or billions dollars will get liquidated as the market grows.

If you compare gold marketcap, you will see how less volatile gold is, but more liquidation with higher volatility, but which is still far lower volatility if compared to bitcoin volatility.

Comparing Bitcoin directly to Gold isnt really fair at this point. Gold is globally recognized as a "safe-haven" asset with thousands of years of history, far more market participants, and massive institutional liquidity. Unlike Gold, which operates under strict regulatory rules and laws and heavy oversight, the crypto-market remains one of the easiest markets to manipulate   where cheating and price manipulation are still widespread. And regarding the market trend atm, many market indicators still point to a bear market overall, and there is no clear sign of a trend reversal yet. "Short" and "long"-pumps or liquidations-cacades dont necessarily mean a new bull run has started, often more the opposite.

[Charles-Tim]

Comparing Bitcoin directly to Gold isnt really fair at this point. Gold is globally recognized as a "safe-haven" asset with thousands of years of history, far more market participants, and massive institutional liquidity. Unlike Gold, which operates under strict regulatory rules and laws and heavy oversight, the crypto-market remains one of the easiest markets to manipulate  Roll Eyes where cheating and price manipulation are still widespread.

I am not comparing bitcoin and gold, I explaining the reason the liquidation is huge, unlike how it was before in the past. I only use gold marketcap to explain the reason gold may have higher liquidation than bitcoin because of its high marketcap.  I only mean the more the marketcap, the higher could be the money liquidated as more people are trading the assets.

But I think the liquidation you meant is manipulation, which could make you misunderstood what I meant, but I understand what you means now.

And regarding the market trend atm, many market indicators still point to a bear market overall, and there is no clear sign of a trend reversal yet. "Short" and "long"-pumps or liquidations-cacades dont necessarily mean a new bull run has started, often more the opposite.

I was not referring to market trend indicator, I was referring to fear greed index. It has shifted from fear to greed.

[CryptoBuds]

Since this isn’t just an ordinary price movement, what do you think is driving it?

Based on the five polls above, if you had to choose, what would your answer be?
The Clarity Act could be a factor driving the price up to $80,000, and to be honest, I don’t really care about any of that. I’m just smiling at the current price increase.

Clarity Act hasn't even passed yet, and there is no guarantee it will.

Second, its core purpose is to clear up the regulatory lines between the SEC and CFTC and decide which asset are securities and which are commodities. Unlike ETF, it doesn't directly bring new money into the market. So I dont see it being a strong enough catalyst to trigger a major rally, even if it does pass.

Still, I don't think we need to find and assign a specific reason every time the market move. Let us keep it simple. This is just normal market movement.

[Zlantann]

However, as Speculation goes around the internet, it is said that the moment Trump made the news about the Clarity Act.
That has also motivated institutions to buy more Bitcoins.

The Clarity Act is not the only catalyst for this sudden positive move. So my take is that almost all the factors stated in the pool might have contributed to the price increase. But you should know that these options are interrelated. An example is that Trump pushing the CLARITY Act might lead to high Bitcoin ETF inflows. Other options could also push ETF inflows.

The belief that the bear season is over is untrue based on my projections. This move might be brief; we might have a drop in a few weeks or months.

[AprilioMP]

Since this isn’t just an ordinary price movement, what do you think is driving it?

Based on the five polls above, if you had to choose, what would your answer be?
The Clarity Act could be a factor driving the price up to $80,000, and to be honest, I don’t really care about any of that. I’m just smiling at the current price increase.

I don’t even understand why someone thinks this isn’t an ordinary price movement, the time I’m writing this post we are now having $79k which is why I’m not surprised by anything, I’m expecting it to go above 80k it should be approaching $100k so I can be smiling as well.

Well I don’t really have much interest in the so called pool, I’m more interested in the price of bitcoin going up, it would surely come with excitement.

Take a look at the price pattern over the past two days. As of today, the market price has failed to break through $83,000 and has only reached just below that level.
But it must be acknowledged that August’s performance has been quite satisfactory, and the upward price trend seen so far has provided momentum for day traders who know how to capitalize on opportunities, as evidenced by the liquidation and derivatives charts.
Long-term investors remain steadfast in their final decisions, even though the market was briefly in turmoil.