But now that liquidation activity has cooled, the market needs fresh spot demand to keep the momentum going.
A short squeeze can start a rally. It can't sustain one forever.
Bitcoin is holding above $85K after a massive short squeeze
Bitcoin is trading above $85K after a strong rebound, while more than $1B in crypto positions were liquidated over 24 hours.
Around $844M of those liquidations came from short positions.
That's a lot of forced buying.
But the next question isn't whether BTC can briefly trade above $80K.
It's whether buyers can defend that level when traditional markets reopen on Monday.
Bitcoin is back above $80K
BTC reclaimed $80K after a volatile week and continued trading above that level into the weekend.
The market has already absorbed a Fed rate hike and the Senate's failure to advance the CLARITY Act.
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Thatโs interesting because ETH and XRP funds were moving in the opposite direction.
After the Fed hike, money isnโt leaving crypto completely.
Itโs becoming much more selective.
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Thatโs roughly the average cost basis of active BTC investors, and buyers stepped in almost exactly around that area.
For now, that level is doing its job.
Bitcoin buyers defended $76K again
Bitcoin bounced back above $77,500 after briefly dropping toward $76,400.
XRP led the majors with nearly a 3% gain, while SOL recovered around the $100 level.
What Iโm watching is $76,350.
Part of the capital will go toward digital assets, tokenization and custody infrastructure.
RWA adoption isnโt only happening at the token level. The clearing and custody layer is getting funded too.
Bain Capital backs tokenization infrastructure
RQD Clearing has raised $74M in a minority growth investment led by Bain Capital Tech Opportunities, with ABN AMRO Clearing Bank and Nyca Partners also participating.