Bearish cryptocurrency bets have seen a liquidation squeeze during the past day as Bitcoin and other assets have gone through a price surge.

Bitcoin Crosses $80,000 For First Time In Months

Bitcoin has enjoyed a surge over the past day that took its price to a peak of $80,500, the highest that the cryptocurrency has traded since the end of January, when BTC was retracing that month’s recovery rally.

The chart below shows how the latest price action has looked for the asset.

From the graph, it’s visible that Bitcoin has pulled back a bit since the high, as its price is now floating around $79,900. Nonetheless, the coin remains above recent levels. As is usually the case, the rest of the digital assets have also followed in the footsteps…