Bitcoin Price Loses Momentum Near Key Resistance at $82K

Bitcoin's price stalled near $82,000 after briefly breaking above that level on September 4. The pullback was expected as traders took profits following a short squeeze driven by softer Federal Reserve expectations and renewed demand for US spot Bitcoin ETFs.

The price retreated to around $81,150, still well above the $80,000 mark reclaimed during the previous session. This move out of a range around $77,000, $79,000 forced short sellers to close leveraged positions, adding automatic buy orders to the market.

CoinGlass data showed that the broader crypto market recorded more than $500 million in liquidations during the rally, with short positions accounting for most of the total. Bitcoin shorts absorbed about $415 million of those losses.