Wintermute: Bitcoin Faces Further Downside Risk

Wintermute warns Bitcoin could fall further if the $76,800 support breaks, according to OnchainLens. The firm currently holds $101.33M in shorts on Hyperliquid showing $3.35M unrealized profit and $220.24M lifetime PnL from address 0xecb63caa47c7c4e77f60f1ce858cf28dc2b82b00.

Bitcoin trades at $77,300 inside the Bollinger Bands with upper resistance at $78,577 and lower support at $76,775. Price sits below the EMA50 at $78,853 and EMA200 at $80,996 in a bearish structure, yet the MACD golden cross at -461.65 signals building momentum while RSI at 41.37 remains neutral. With price testing lower band support near the warned $76,800 level and RSI showing room before oversold territory, a breach could accelerate downside toward the next volatility exhaustion zone before any relief rally tests the 50-EMA resistance.