Bitcoin Tops $80,000 for First Time Since January

Bitcoin surged above $80,000 on Monday for the first time since late January, marking a rapid breakout from a $78,000 range after weeks of consolidation and triggering renewed bullish momentum across cryptocurrency markets.

The cryptocurrency climbed from around $78,000 over the weekend, reaching this psychologically significant level amid strong buying pressure. This represents a nearly 30 percent recovery from February lows near $62,000. While the rally coincided with gains in Asian equity markets and tech stocks, including the Nasdaq 100 nearing all-time highs, Bitcoin held well below its October peak of about $126,200.

Profit-taking accelerated as the price crossed $80,000, with long-term holders who accumulated two to three years ago distributing holdings at rates exceeding $200 million per hour, according to on-chain analytics. Net realized profits across the network reached approximately $1.1 billion, the highest since last December. Data from firms like Glassnode and Santiment showed short-term holders also securing gains after a volatile first quarter that ended down 22 percent. Analysts view this distribution as a healthy sign in a bull market, as it resets the cost...