Bitcoin failed to overcome $79,000, but a potential bear trap formed as $1.4 billion in short positions face liquidation at $80,000. Will spot market demand be the trigger?
Ether (ETH) fell 3.4% to $2,287 on Monday after failing to break the $2,400 level for the fourth time since April 14, forming a triple top pattern. The price trades below the 100-day moving average, with $2.5 billion in liquidation risk concentrated near the $2,150 support zone. Crypto analyst Michaël van de Poppe flagged weakness in ETH/BTC, while open interest dropped to $2.58 billion and funding rate hit -0.013%, the lowest since February, indicating a shorts-heavy setup.
The Trump administration is in advanced talks for a financing package for Spirit Airlines as the carrier faces liquidation risk, according to people familiar with the matter. The Dania Beach, Florida-based discount carrier filed for its second Chapter 11 bankruptcy in less than a year in August 2024, struggling with rising costs, changing consumer tastes, an engine recall, and a court-blocked merger with JetBlue. President Trump indicated willingness to consider government aid, citing 14,000 jobs at stake, while the White House blamed the Biden administration for blocking the JetBlue merger.
