$150M in crypto shorts liquidated in 60 minutes as Bitcoin breaks $80K, triggering a sharp short squeeze.

Bitcoin's price surged past $80,000 on May 4, 2026, causing over $150 million in short positions to be liquidated within an hour. This sharp short squeeze was driven by a heavily short-biased market, with nearly 63% of Binance futures positions betting on a price drop. The sustained rally, supported by ETF inflows and institutional interest, makes a pullback below $80K less likely. If Bitcoin holds above $80,500, further liquidations could push the price toward $85,000, signaling strong upward momentum ahead.