Bitcoin crosses $80K as geopolitical easing boosts risk appetite; $270M short liquidations aid surge

Bitcoin crossed the $80,000 mark registering a gain of 0.5% in the past 24 hours as geopolitical de-escalation in the Middle East brought back risk-on sentiment across global markets. The cryptocurrency was trading at the $80,742 mark.

In the past 24 hours, Ethereum slipped 0.5% to trade at the $2,377 mark. Among the major altcoins, XRP, BNB, Solana, Dogecoin, Hyperliquid and Cardano fell up to 2% whereas Tron was up 0.3%.

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Akshat Siddhant, Lead quant analyst, Mudrex said the rally is supported by nearly $270 million in short liquidations, along with a decline in oil-driven inflation hedges, allowing Bitcoin to reclaim its bull market support band after three months.

At the same time, institutions are absorbing Bitcoin five times faster than new supply growth, creating further buy-side pressure, Siddhant further said.

The global crypto market capitalisation rose by 0.14% to $2.67 trillion, according to CoinMarketCap.

Ashish Singhal, Co-founder at CoinSwitch said Bitcoin is currently trading near the $80,000 mark, with noticeable volatility driven by ongoing geopolitical tensions between the US and Iran. Broader macro signals, particularly the sharp rise in oil prices, with WTI crossing $105 and Brent nearing $119, are adding to market uncertainty and keeping investor sentiment cautious.

Singhal further said that since the onset of the conflict, Bitcoin has gained over 20%, while gold has declined by nearly 13–14% and this divergence reflects the continued impact of rate expectations on traditional non-yielding assets, while also highlighting Bitcoin’s evolving role in global portfolios.

Ethereum and Bitcoin were up 4% and 5% respectively in 24 hours. Among the major altcoins, XRP, BNB, Solana, Tron, Dogecoin, Hyperliquid, and Cardano rallied up to 12%.

A potent mix of shrinking supply and robust institutional appetite has propelled Bitcoin toward an $80,000 milestone fueled by a powerful convergence of institutional demand and dwindling supply. marking its strongest monthly performance of the year, said CoinDCX Research Team.

This rally is underpinned by a seven-day streak of spot Bitcoin ETF inflows exceeding $335 million, while exchange reserves have plummeted to near all-time lows, CoinDCX Research Team further said.

Here is what others say on Bitcoin crossing $80,000 mark

Vikram Subburaj, CEO, Giottus

Bitcoin traded around $80,300 on May 5, 2026, with a 24-hour gain of about 0.8% and a 7-day gain of about 4.2%. The move kept the asset above the $80,000 mark after an estimated 12% rise in April.

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WazirX Market’s Desk

Bitcoin crossed $80,000 for the first time since January, supported by strong ETF inflows, better miner profitability, and a broader risk-on mood as global equities move higher. Ethereum and other major altcoins have also moved up, though investor focus is increasingly shifting toward Bitcoin as its market dominance climbs.

Riya Sehgal, Research Analyst, Delta Exchange

Bitcoin’s move above $80,000 reflects a mix of technical breakout momentum, improving institutional flows, and returning risk appetite despite geopolitical uncertainty. Spot BTC ETF inflows above $600 million on consecutive sessions show traditional capital is using dips to accumulate, helping absorb supply.

Avinash Shekhar, Co Founder and CEO, Pi42

Bitcoin is trading above the $80,000 level, testing a key psychological resistance after recently reclaiming it for the first time in three months. The move higher has been supported by strong momentum and a sharp liquidation of bearish positions, reflecting aggressive short covering as price pushed upward.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

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