Bitcoin trades at the 80 thousand dollar level as a major investor opens a new position

While the cryptocurrency markets followed a volatile course over the weekend, Bitcoin is trading around 80,820 dollars. A major investor opened a new buying position despite their total loss reaching 25.98 million dollars.

As of Sunday in the cryptocurrency markets, Bitcoin (BTC) is trading at 80,820 dollars with an increase of approximately 400 dollars. According to technical data, the asset is trapped in a narrow range on the five-hour chart, moving between 80,500 and 85,000 dollars. Analysts state that if the price remains below 83,052 dollars, market control will belong to sellers. In a possible downward scenario, breaking the 80,500 dollar support level could pull the price down to 77,781 dollars. Market experts state that a potential rebound buying from this level could start a short-term upward trend and balance the market.

According to Pluang data, an unidentified major investor closed their short position worth 1.56 million dollars at the 80,822 dollar level and immediately opened a new buying position of approximately 3.09 million dollars at the 80,765 dollar level. Data shows that despite these moves, the investor's total accumulated loss from crypto transactions reached 25.98 million dollars. The horizontal and uncertain course in the leading cryptocurrency was also reflected in the altcoin market, where only 5 of the top 50 cryptocurrencies by market capitalization gained value while 44 continued the day with losses.