After Bitcoin broke above $81,000, the cryptocurrency market further expanded its gains. Foreign media reported that over the past 24 hours, the total market capitalization of the crypto market rose to $2.8 trillion, increasing by 3.9% in a single day. As Bitcoin surged rapidly, large-scale short liquidations occurred in a short period, and altcoins began to outpace Bitcoin in price gains.
Approximately $140 million is settled per hour.
Reports show that Bitcoin briefly surpassed $81,000, rising approximately 5.6% on the day, and was last trading at $80,958.93. After breaking through this key level, around $140 million in crypto short positions were liquidated within 60 minutes, further amplifying market volatility.
This rally is not limited to Bitcoin alone. Multiple major altcoins are also strengthening simultaneously, indicating that capital is spreading toward assets with higher upside potential.
- Zcash rose 17.7% in 24 hours to $943.48
- XRP rose 10% to $1.46
- Cardano rose 12.7% to $0.2227.
Solana rose 6.3% to $104.63, and Dogecoin increased 9.6% to $0.08981. BNB and Chainlink both rose over 5.8%, while Hyperliquid gained 4.4%. Among these, Zcash's trading volume surged to over $750 million, significantly higher than before.
Capital rotation shifts toward altcoins
Foreign media, citing trader Michaël van de Poppe, said that when Bitcoin trades within a range, market momentum often shifts to altcoins, and the longer the range persists, the stronger the relative performance of altcoins tends to be.
The report suggests that Bitcoin is no longer confined to its previous range but has broken out and continued to rise, causing the rotation to not only persist but also show signs of acceleration. Additionally, the "OTHERS" sector, excluding Bitcoin and Ethereum, is viewed by some market participants as nearing a breakout of a major upward pattern.
August was one of the strongest months of the year.
This rally also marked the conclusion of August’s market movement. The report noted that Bitcoin posted one of its strongest monthly performances since 2026, while the combined market capitalization of the top 100 altcoins slightly outperformed Bitcoin.
More importantly, the rally was not driven solely by a few high-market-cap tokens. Both the average and median returns for altcoins were positive in August, indicating that the market strength was broadly based.
Looking at the current price action, Bitcoin’s breakout of key resistance levels, a concentrated liquidation of short positions, and double-digit gains across multiple altcoins have together fueled a broad-based market rebound. Next, market attention will turn to whether altcoins can maintain their relative strength in upcoming trading sessions.