Bitcoin Slides Under $81K as Trump Breaks a Line Bulls Held Since August

Bitcoin closed a daily candle below its 50-day moving average for the first time since August, as $318 million in long bets were wiped out in a single day. For roughly two months, bitcoin’s 50-day moving average (MA) acted like a floor where every dip toward it got bought. That status quo, however, changed on Friday, when bitcoin closed a daily candle below the indicator for the first time since August. As of Saturday morning, bitcoin is trading around $80,800, down 1% on the day.