
Altcoins With Double-Digit Gains as Bitcoin Rocketed to 3-Month High: Market Watch
Bitcoin hits $80,500, altcoins like ETH and XRP also rise significantly.

Bitcoin's 200-week moving average has surpassed $60,000, indicating it may never trade below this level again. A breakout above $80,000 has led to significant short liquidations, totaling over $357 million in the last 24 hours.
Bitcoin’s 200-week moving average has passed $60,000, which means that the leading cryptocurrency might never trade below this level again.
#bitcoin 200wma passes $60k pic.twitter.com/bG1z8SDWpZ
— Adam Back (@adam3us) May 4, 2026 Concurrently, a powerful breakout above $80,000 has triggered a massive wave of short liquidations. Earlier today, BTC reached an intraday high of $80,631, reaching the highest level since Jan. 31.
The 200 WMA is widely regarded as Bitcoin’s ultimate macro support level. Historically, Bitcoin rarely dips below its 200 WMA. This has happened several times only during extreme bear market capitulation events. The 200 WMA crossing the $60,000 threshold fundamentally shifts the baseline of the asset. The metric is a lagging indicator that smooths out short-term volatility.
Bitcoin experienced a sudden breakout earlier today, with bears pushing the price of the leading cryptocurrency past the $80,000 psychological barrier. The sudden surge to a 94-day high caught the derivatives market completely off guard.
#btc finally back into the 80K range after a multi-month dip.😎 pic.twitter.com/TYlHpQ9cGD
— dave the wave🌊🌓 (@davthewave) May 4, 2026 According to recent data from CoinGlass, the sudden upside volatility resulted in massive wipeouts for over-leveraged traders. Total liquidations have reached $357.34 million over the past 24 hours. Notably, a whopping 100,741 individual traders were liquidated. Of the $357.34 million in total liquidations, a staggering $305.04 million were short positions, compared to just $52.30 million in longs. The largest single liquidation order occurred on Binance for an ETH-USDT swap, valued at an incredible $11.77 million. According to DonAlt, a popular pseudonymous cryptocurrency trader, market participants will once the price of the leading cryptocurrency surges above the key $87,000 level.
It suggests that Bitcoin may not trade below this level again, marking a significant shift in its price support.
Total liquidations reached $357.34 million, with over 100,741 individual traders affected.
Traders believe that a surge above $87,000 could lead to full-blown bullish sentiment in the market.

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I've been preemptively bullish but I think these are the levels at which sentiment and market behavior will shift notably
78k$+ - People will finally start being cautiously bullish 87k$+ - Full blown bullish, bullish acceleration likely 70k$- - High likelihood of death pic.twitter.com/a7isYdeoUU
— DonAlt (@DonAlt) May 3, 2026