Key takeaways:
-
A newly created whale wallet opened a $ 54.5 million. 20x long position on Bitcoin for $ 106,538.
-
Bitcoin is approaching $ 108,000 as trade negotiations in USA-China and Bullish Equity forecasts Lift Market Sentiment.
-
Analysts expect BTC to break its constantly within 1-2 weeks, mirroring the recent outbreaks in gold and S&P 500.
Bitcoin (BTC) reached $ 108,000 on June 9, just as a recently funded crypto -tektet book performed one of the year’s boldest geared trades: A $ 54.5 million long position on BTC with 20x leverage.
Whale is already sitting on a $ 11,000 paper surplus
The wallet, identified as “0x1F25”, was created earlier today and immediately funded with $ 10 million in USDC StableCOin.
The trader then opened a 511.5 BTC position on the decentralized Exchange Hyperliquid using full leverage across margins.
With an entrance price of $ 106,538 and a liquidation level of $ 88,141, the trader is currently over $ 11,000 in paper surplus, a modest but strategic gain in the midst of rising market moments.
Some dealers believe that the whale behind the wallet “0x1F25” may be James Wynn, a high -profile Hyperliquid trader who recently suffered massive liquidation.
Wynn lost a first $ 99.3 million when BTC fell below $ 105,000 on May 30, when two long positions a total of 949 BTC were wiped out. A week later, on June 4, he took another $ 25 million hit when 240 BTC in another geared position was liquidated.
Despite these setbacks, Wynn has quickly opened fresh megabets and maintains a pattern to get into new trading in high handling and match the aggressive style behind the wallet 0x1F25.
Trade negotiations in US-China increase Bitcoin’s Upside Outlook
BTC’s push over $ 108,000 came when dealers monitored trade negotiations in the US China that unfolds in London.
Negotiations began on June 9 afternoon with signs of a diplomatic thaw: The United States is reportedly willing to relax technological export restrictions in exchange for more access to China’s rare soil materials.
Lectures may continue in Tuesday, if necessary, according to officials close to the case. Like Bitcoin, US stocks have responded positively to the news, indicating a comprehensive positive mood among risk tickets.
On June 6, strategists at JPMorgan and Citigroup raised their goals for the end of the year for S&P 500, pointing to facilitating US-China merchant stresses and stronger than expected financial data.
Goldman’s David Kostin said the markets are starting to reflect an “optimistic growth prospects” – a mood that seems to lift crypto as well, with the market for digitally asset and adds more than $ 190 billion in value since the revised forecasts.
Bitcoin Eyes new record high in 1-2 weeks
Bitcoin may try its record height of about $ 110,000 and can even cross it over the next 1-2 weeks, according to analyst Ted Pillows.
Pillows compare Bitcoin’s current setup with recent features in gold and S&P 500, both of which rose after broken over similar resistance levels.
His diagram shows all three assets facing horizontal barriers – levels where prices previously topped – and Bitcoin now appears to follow the same breakout pattern.
Related: Bitcoin Price will see ‘short -term correction’ before $ 140K: Analysts
Some analysts see Bitcoin Price reaching over $ 150,000 for the end of the year, one step that can push the whale’s profit to about 225% – or $ 22.5 million – given his $ 10 million margin.
This article does not contain investment advice or recommendations. Each investment and trade movement involves risk, and readers should make their own research when making a decision.