Crypto
Bitget's BTC Protection Fund Sees $266M Exit Amid Bearish Market
Bitget has updated its Bitcoin protection fund data, revealing that 3,215.28 BTC have exited the pool since its inception. This exit is worth around $266 million at current prices. The current price of Bitcoin is $83,024.11, which sits below the EMA50 resistance at $83,448.39 in a bearish structure confirmed by the MACD death cross.
The Relative Strength Index (RSI) is currently at 39.85, indicating neutral momentum within the Bollinger bands. This confluence suggests limited downside room towards the lower band support at $82,779 before any potential rebound attempt.