Hedge funds cut their net bearish Bitcoin futures positions by nearly 15%, reducing short exposure by 5,292 BTC as the cryptocurrency tumbled toward $80,000. The shift came as Bitcoin ETFs recorded nearly $230 million in weekly outflows while leveraged traders increased spread positions by 48%. Bitcoin briefly fell below $81,000 amid rising Treasury yields, weakening institutional demand, and a global technology stock selloff. The volatility triggered approximately $813 million in cryptocurrency liquidations over 24 hours. Bitcoin later recovered to approximately $82,800, though the market remained vulnerable to further selling with key support identified around $78,000.
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