If Bitcoin closes above $80,000 on a daily candle, a short squeeze could send 
prices racing toward $82,230 — a level that hasn&#8217;t been tested in seven 
months. Related Reading: XRP Bulls Eye Breakout As Ripple Unveils 13,000 Bank 
Connections Worldwide That&#8217;s the scenario analysts are watching after a 
massive wave of selling halted Bitcoin&#8217;s climb at a key resistance zone over 
the weekend. Short Sellers Dominate The Derivatives Market Data from Binance 
futures shows nearly 63% of open positions are currently short, meaning a 
large share of traders are betting on lower prices. According to analyst 
Frigg, that setup cuts both ways. If buyers manage to push Bitcoin through 
$80,000 and hold it, those short positions would be forced to close, adding 
buying pressure and potentially accelerating a move to the 200-day moving 
average at $82,230. $BTC touched $80,526 this morning. it&#8217;s at $79,900 on rn. 
a wick is not a close. here&#8217;s what actually moved it. Trump announced Project 
Freedom Sunday night U.S. escorting stranded vessels through the Strait of 
Hormuz starting today. 15,000 troops, destroyers, 100+ aircraft.… 
pic.twitter.com/p1SP4Ktilc — Frigg 🌸 (@0xfrigg) May 4, 2026 That threshold 
hasn&#8217;t been tested since last October. The derivatives picture sits on top of 
a broader accumulation trend. Reports indicate whale wallets added 270,000 BTC 
through April, while Bitcoin held on exchanges fell to its lowest level in 
seven years. Less Bitcoin on exchanges typically signals that holders are 
moving coins into cold storage — not preparing to sell. Bitcoin: Taker Sell 
Volume hits $1.67B in a single hour, highest value in 2 weeks🤯 
pic.twitter.com/2Otd8PIRg8 — Maartunn (@JA_Maartun) May 4, 2026 $1.67 Billion 
In One Hour The selling spike itself came fast. CryptoQuant analyst Maartunn 
flagged that taker sell volume hit $1.67 billion in a single hour — the 
highest reading in two weeks — right as Bitcoin crossed $80,000 for the first 
time since January 2026. Taker sell volume tracks market orders placed 
immediately at the best available price. When that number spikes, it points to 
urgent selling rather than patient, limit-order activity. Based on the data, 
analysts said $80,000 acted more like a distribution zone than a true breakout 
point, with sellers absorbing demand faster than buyers could sustain 
momentum. Bitcoin pulled back after the rejection, retreating from a high of 
$80,500 reached just hours earlier. Macro Events Helped Fuel The Run-Up The 
rally itself had a geopolitical trigger. US President Donald Trump announced 
what his administration called Project Freedom on Sunday, with the US military 
beginning to escort vessels through the Strait of Hormuz using 15,000 troops, 
destroyers, and more than 100 aircraft. Related Reading: Long-Dormant Bitcoin 
Whale Transfers 11,300 BTC, Sparking Market Speculation The operation pushed 
oil prices lower and lifted sentiment across risk assets, Bitcoin included. 
Frigg noted the situation remains unstable. A tanker was struck near Fujairah 
the same morning, and Iran described the US operation as a ceasefire 
violation. The brief improvement in market mood, she said, has not resolved 
the underlying tension. Featured image from Vecteezy, chart from TradingView

Bitcoin Market Rocked By $1.6 Billion Wave Of Aggressive Selling

The USS George H.W. Bush&#8217;s operations highlight sustained US military 
pressure, impacting maritime traffic and geopolitical stability in the region.
The post US aircraft carrier USS George H.W. Bush conducts operations in 
Arabian Sea appeared first on Crypto Briefing.

US aircraft carrier USS George H.W. Bush conducts operations in Arabian Sea

Somnia’s new USDso stablecoin, issued by Frax Finance and backed by tokenized 
Treasuries, routes reserve yield back into Somnia’s high-throughput DeFi 
ecosystem. How USDso is structured on Somnia Somnia, a high-throughput L1 
developed with Improbable and the Somnia Foundation, has…

Somnia taps Frax to launch USDso stablecoin for high-frequency DeFi

A newly created Hyperliquid wallet deployed $1.31 million into a 6x leveraged 
long on toncoin (TON) on Tuesday, setting a liquidation floor at $1.4213 and 
drawing immediate attention from onchain tracking firms. Key Takeaways: A new 
Hyperliquid wallet opened a 6x TON long worth $1.31M on May 5, with a $1.42 
liquidation price. The trade […]

Hyperliquid Whale Bets $1.31M on TON at 6x Leverage as Bitcoin Eyes Fresh Highs

Cipher Digital secures a $200M revolving credit facility to fund its pivot 
from Bitcoin mining to long-duration, AI and HPC data center revenues anchored 
by multi-campus leases. New credit facility underpins data center growth 
Cipher Digital said in its first-quarter…

Cipher Digital secures $200M credit line to scale AI and HPC footprint

Iran&#8217;s refusal to meet US officials highlights ongoing diplomatic challenges, 
potentially delaying direct negotiations and impacting regional stability.
The post Iran refuses US meeting as envoys visit Pakistan for talks appeared 
first on Crypto Briefing.

Bitcoin Market Rocked By $1.6 Billion Wave Of Aggressive Selling

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