Bitcoin: $200M Liquidations Push Price Below $80K

The Kobeissi Letter reported that Bitcoin and ETH fell sharply after $200 million in levered positions were liquidated in under 60 minutes, sending Bitcoin back below $80,000.

Price sits at $79821.14 inside the Bollinger band with lower support at $79385.95 while the RSI at 29.13 flashes oversold and the MACD death cross remains intact below both the EMA50 at $81997.33 and EMA200 at $81996.35; desks watch for a quick test of that lower band before any relief rally develops.