After Bitcoin broke through $81,000, the upward trend in the crypto market further expanded. According to foreign media, the total market value of the crypto market rose to $2.8 trillion in the past 24 hours, with a daily increase of 3.9%. As Bitcoin soared, there was significant short-selling liquidation in the market in a short period of time, and the gains of altcoins also began to significantly exceed those of Bitcoin.
Clears approximately $140 million in one hour
Reports show that Bitcoin once broke through $81,000, with a daily increase of about 5.6%, and was recently reported at $80,958.93. After the price surpassed this key level, approximately $140 million in short positions in cryptocurrencies were liquidated within 60 minutes, further amplifying market volatility.
This round of gains is not limited to Bitcoin alone. A variety of mainstream altcoins have also strengthened simultaneously, indicating that funds are spreading towards assets with greater flexibility.
- Zcash rose 17.7% in 24 hours, reaching $943.48
- XRP rises 10% to $1.46
- Cardano rose by 12.7% to $0.2227
Solana rose by 6.3% to $104.63, Dogecoin rose by 9.6% to $0.08981. BNB and Chainlink both rose by over 5.8%, and Hyperliquid rose by 4.4%. Among them, the trading volume of Zcash increased to over $750 million, which is a significant increase from before.
Funds are shifting towards altcoins
Foreign media quoted traders Micha, van, de, and Poppe as saying that when Bitcoin trades within a certain range, market momentum tends to shift towards altcoins, and the longer this range persists, the relatively stronger the performance of altcoins usually is.
The report suggests that Bitcoin is not remaining within its previous range but continues to rise after breaking through, which has not interrupted the original rotation pattern; instead, there are signs of acceleration. In addition to Bitcoin and Ethereum, the “OTHERS” sector is also seen by some market participants as being on the verge of breaking through a major upward trend.
August proved to be one of the strongest months of the year.
This round of gains also marked the end of August's market trend. Reports mentioned that Bitcoin recorded one of its strongest single-month performances since 2026 in August, while the combined market value of the top 100 altcoins performed slightly better than Bitcoin.
More importantly, the upward trend is not driven solely by a few large-cap tokens. Calculated based on average and median returns, altcoins all had positive performances in August, indicating that the strong market coverage is quite broad.
From the current trend, Bitcoin breaking through key resistance levels, bears closing their positions en masse, and various altcoins recording double-digit gains have all contributed to a relatively comprehensive market rebound. Next, the focus of the market will shift to whether altcoins can continue to maintain their relative strength in subsequent trading sessions.
