So, Bitcoin‘s 200-week moving average has finally oozed past $60,000. And now the crypto enthusiasts are acting like this means it might never trade below this level again. Right. And I suppose next they’ll tell me my favorite coffee shop will never run out of my usual order. Please.
#bitcoin 200wma passes $60k
– Adam Back (@adam3us) May 4, 2026
Meanwhile, a so-called “powerful breakout” above $80,000 has triggered a massive wave of short liquidations. Translation: a bunch of people who bet against Bitcoin got their portfolios vaporized. Shocking, I know.
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Earlier today, BTC reached an intraday high of $80,631, which is its highest since January 31. Big deal. I remember when $80,000 was a fortune. Now it’s just a number on a screen that makes people lose their minds.
The importance of the 200 WMA
The 200 WMA is widely regarded as Bitcoin’s ultimate macro support level. By whom? The same people who bring you daily price predictions that are about as reliable as a weather forecast from a magic 8-ball.
Historically, Bitcoin rarely dips below its 200 WMA. This has happened only during extreme bear market capitulation events. Which, in crypto terms, means everyone panicked and sold everything. Groundbreaking stuff.
The 200 WMA crossing $60,000 fundamentally shifts the baseline of the asset. Sure it does. Because nothing says stability like an asset that can swing 20% in a day.
The metric is a lagging indicator that smooths out short-term volatility. In other words, it tells you what happened, not what will happen. But hey, why let that get in the way of a good story?
The $80,000 breakout
Bitcoin experienced a sudden breakout earlier today, with bears pushing the price past $80,000. Bears? More like confused gamblers who thought they had a sure thing.
The sudden surge to a 94-day high caught the derivatives market completely off guard. Because, you know, crypto markets are known for their predictability.
#btc finally back into the 80K range after a multi-month dip.😎
– dave the wave🌊🌓 (@davthewave) May 4, 2026
According to recent data from CoinGlass, this upside volatility resulted in massive wipeouts for over-leveraged traders. Total liquidations hit $357.34 million in 24 hours, with 100,741 individual traders getting rekt. That’s a lot of ‘oops’ moments.
Of that, $305.04 million were short positions, compared to just $52.30 million in longs. So, the bears got slaughtered while the bulls barely broke a sweat. Typical.
The largest single liquidation order occurred on Binance for an ETH-USDT swap, worth $11.77 million. Someone just learned a very expensive lesson about leverage. Hope it was worth it.
According to DonAlt, a popular pseudonymous cryptocurrency trader, market participants will turn full-blown bullish once the price surges above $87,000. Because psychological levels are totally based on logic and not pure, unadulterated hype.
$BTC
I’ve been preemptively bullish but I think these are the levels at which sentiment and market behavior will shift notably
78k$+ – People will finally start being cautiously bullish
87k$+ – Full blown bullish, bullish acceleration likely
70k$- – High likelihood of death– DonAlt (@DonAlt) May 3, 2026
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2026-05-04 08:37