Bitcoin: $53M Short Closure Hits Trading Desks

Bitcoin saw desks absorb a $53M short closure tied to a potential nine-figure position on May 29 2026 as BTC traded at $73995. This type of flow between trading desks reflects standard crypto OTC desk large order flow mechanics seen in Bitcoin large short position closures trading desks history over the past year. On the 4h chart BTC holds a bearish structure below EMA50 at $75580 and EMA200 at $76866 yet MACD shows a bullish golden cross while price sits inside Bollinger bands testing upper resistance near $76831 with RSI at 41.39 leaving room for continuation once the 50-EMA support reasserts itself.