Bitcoin held above $81,000 over the weekend after a sharp Friday rally pushed the cryptocurrency back through the closely watched $80,000 level.
Bitcoin was trading around $81,165 after gaining roughly 6% during Friday’s session, reversing much of the weakness seen earlier in the week when the cryptocurrency fell into the mid-$75,000 range.
The rally triggered significant short liquidations, with approximately $250 million in bearish crypto positions liquidated over a four-hour period, adding momentum to Bitcoin’s recovery.
The rebound came despite continued pressure from global energy and bond markets. West Texas Intermediate crude recovered to around $100 per barrel on Friday, while Brent traded near $102 as markets continued to assess disruption to Middle Eastern oil supplies.
U.S. Treasury yields also remained elevated. The 30-year Treasury yield ended Friday at 5.34%, creating a challenging environment for risk assets as investors continued to assess inflation and interest-rate expectations.
Bitcoin’s ability to advance despite elevated oil prices and bond yields suggests that short covering and crypto-specific demand were strong enough to offset some of the pressure from tighter financial conditions.
The cryptocurrency is now approaching another important technical area around $82,000, which has repeatedly limited recent recovery attempts. A sustained move above that level could strengthen the latest rebound, while another rejection could keep Bitcoin within its recent trading range.
The market is also monitoring developments in U.S. digital-asset regulation alongside broader macroeconomic conditions.
For now, traders are watching whether Bitcoin can maintain $80,000 as support and establish a sustained move above $82,000 as traditional markets reopen.
