Bitcoin Price Surge Forces Major Short Seller to Trim Position

A major Bitcoin (BTC) short seller has trimmed its position to avoid liquidation after BTC's price surge.

The largest of four major shorts, 0xff84, cut its holdings from 1,793 BTC ($114.4M) to 1,143 BTC ($73.97M), according to blockchain news.

This move comes as the price of BTC tests the upper band resistance at $65,545.88 on the 4h chart, with the Moving Averages (EMAs) framing a bearish structure.

The Relative Strength Index (RSI) remains neutral at 44.91, while the MACD indicator confirms the death cross and signals potential for a retracement toward the EMA50 at $64,315.17 before any sustained continuation.