Bitcoin Sellers Capitulate as BTC $80K Support Faces Test

Glassnode says renewed Bitcoin loss selling has previously coincided with local bottoms, raising the possibility of seller exhaustion near $80,000. Binance Bitcoin funding rates fell to -0.0073%, signaling bearish derivatives positioning as traders monitor potential reversals. Bitcoin’s RSI at 43.19 and negative MACD indicate weak momentum, with support at $80,000 and resistance between $82,000 and $84,000. Bitcoin is trading near $81,470 as renewed loss selling, negative futures funding and hotter inflation data weigh on market sentiment. Glassnode says previous bursts of loss selling preceded local bottoms, while analyst Darkfost reports Binance Bitcoin funding rates have fallen to -0.0073%.

Source: Crypto Front News