Bitcoin: Wallets Open $12.5M Shorts on Hyperliquid

Bitcoin fell below $84,000 after four newly created wallets sent $4M USDC to Hyperliquid and opened 40x shorts on 148.49 BTC valued at $12.5M, according to on-chain data from @lookonchain.

Price action on the 4h chart shows BTC testing lower Bollinger support near $84,404.95 while the EMA50 at $84,924.44 acts as immediate resistance in a bearish structure confirmed by the MACD death cross; with RSI at 38.55, a retest of the EMA200 support at $81,954.95 remains the next logical downside target before any relief rally.