"Bitcoin surged past $82,000 on May 14, reversing losses to lift its market cap to $1.63 trillion. The rally triggered $236 million in total liquidations, hitting short sellers on Polymarket and exchanges. Trump's China summit may ease inflation, though experts warn oil markets won't fully recover until 2027."
"On May 14, bitcoin reversed course, wiping out losses incurred 48 hours earlier after jumping by approximately $2,000 during a frenzied four-hour window. Market data showed the cryptocurrency spent much of the late May 13 session and Thursday morning struggling to breach the $80,000 mark. However, shortly after 8 a.m. EDT, bitcoin experienced a steep ascent, peaking just above $82,000."
"At the time of writing (1 p.m. EDT), bitcoin was trading around $81,500 and appeared poised to test the $82,000 level again. The surge drove 24-hour gains of 3.5% and its market capitalisation to $1.63 trillion, helping lift the broader crypto economy's market cap to close to $2.8 trillion."
"The sudden rally resulted in $70.5 million in short bets being liquidated in 24 hours, compared to $14 million in long bets. Overall, the cryptocurrency market saw $236 million in leveraged positions wiped out, with shorts accounting for $145 million. Bitcoin's rebound, mirrored on Wall Street, came hours after it was weighed down by the latest U.S. inflation figures."
Bitcoin surged past $82,000 on May 14 after struggling to break $80,000 earlier. The move reversed losses from the prior 48 hours, with a rapid jump of about $2,000 during a four-hour period. By 1 p.m. EDT, bitcoin traded around $81,500 and was positioned to retest $82,000. The rally lifted bitcoin’s market capitalization to about $1.63 trillion and increased the broader crypto market capitalization to near $2.8 trillion. Liquidations totaled $236 million, with $145 million from short positions and $70.5 million from short bets liquidated in 24 hours. The rebound followed U.S. inflation data that had weighed on markets, while expectations around a Trump China summit raised hopes for easing inflation and reducing tariff tensions.
Read at news.bitcoin.com
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