Bitcoin ($BTC) passed $80,000 after Monday’s Wall Street open as bulls built on last week’s snap $BTC price rally.

Key points:

• Bitcoin hits $80,000 for the first time since mid-May as bullish momentum gathered pace.
• $BTC price analysis warns that the market still needs to sustain higher levels to challenge the bear-market thesis.

Bitcoin returns to $80,000 after 100-day hiatus

Data from TradingView showed $BTC/USD passing the $80,000 for the first time since May 15, up another 3% on the day before pulling back following the European close.

Source: TradingView

The move spurred an uptick in crypto short liquidations, with these passing $220 million over the 24 hours to the time of writing, per data from CoinGlass. A band of bid…