Bitcoin fell below $84,000 after failing to sustain an advance toward the $87,000-$87,800 resistance area. Four newly created Hyperliquid wallets had previously deposited $1 million in USDC and opened 40x leveraged short positions totaling 148.49 BTC, representing approximately $12.5 million in notional exposure. Long liquidations also added further pressure to the decline. The next level to watch is around $80,000, while a move back toward the $87,000-$87,800 zone would challenge the bearish interpretation of this move.
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