Durelen had my thinking right. Of course, who's to say a Balrog couldn't grow itself to at least 80 feet tall? Have you seen Jon Howe's 'The Fall of Gondolin'? He depicts both Balrogs and Dragons. Not saying that his depiction is necessarily canon, but it's interesting. His Balrogs are the same size as his Dragons from shoulder to tail, I think, and then add the Dragons' tail and neck/head. But that's just one example of one artist's rendition.
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