Bitcoin: Shorts Hit as Price Breaks $80500 Stop

Bitcoin cleared the $80500 stop-loss on the large short held by @Jason60704294, pushing the 1830.724 BTC position opened at $76397.56 into an $8.06 million unrealized loss while the accompanying ETH short adds another $1.8 million in red ink for a combined $9.86 million drawdown.

With price now at $80796.17 testing upper Bollinger resistance at $79919.28 while RSI(14) sits at 76.9 in overbought territory and MACD registers a bearish death cross, a healthy retracement toward the EMA50 support at $73399.33 appears probable before any further continuation higher.