Bitcoin tests $80k as Consensus 2026 opens; Asia bid fades and U.S. ETF outflows temper rally

first published 2026-05-04T10:08:52Z

Bitcoin briefly traded above $80,594, sparking roughly $370 million in crypto liquidations over 24 hours — about $302 million from short positions. Bitcoin accounted for roughly $179 million of liquidations and ether about $95 million; the single-largest was an $11.77 million ETH/USDT short on Binance. Futures open interest rose for BTC, ETH and ZEC (BTC futures OI ~763.35K BTC) while options-implied volatility remained subdued. Separately, RWA tokens rallied after a CLARITY Act yield compromise lifted regulatory clarity hopes, with Ondo Finance (ONDO) leading gains and driving DeFi interest in tokenized real-world assets.

AI Analysis

Bullish squeeze: BTC briefly exceeded $80,594 and about $370M of liquidations occurred in 24h, with ~$302M from shorts (BTC ~$179M, ETH ~$95M) and the largest single liquidation an $11.77M ETH/USDT short on Binance. Futures open interest increased for BTC, ETH and ZEC (BTC futures OI ~763.35K BTC) while options-implied volatility remained subdued; RWA/DeFi token rallies followed a CLARITY Act yield compromise (Ondo Finance led gains). These are concrete, market-moving facts supporting short-term bullish pressure.

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