Whale opens long positions Bitcoin 255 million dollars with 20x leverage - What's next for the price of BTC?

On June 20, a special move was witnessed in the Bitcoin market, when an anonymous trader opened a massive long position on BTC with leverage, worth up to 255 million dollars. This move not only drew significant attention in the crypto community but also marked an important turning point for the value of Bitcoin.

According to data from Bitcoin Magazine, Bitcoin has made a significant breakthrough by surpassing the nearby resistance level, increasing by 1% within 24 hours. However, what has drawn investors' attention is not just this price level, but also the substantial change in liquidity in the market.

Specifically, after this price increase, a wave of short liquidations occurred strongly, causing commentators to forecast significant volatility for BTC/USD the day before. Additionally, data from CoinGlass shows that liquidity has been added to higher trading order books, creating a situation that is very susceptible to large trades.

Huge leverage positions

What is particularly noteworthy on June 20 is the appearance of an anonymous trader with long positions in BTC amounting to 255 million dollars, using 20X leverage. While the motives behind this trade remain unclear, such whale trades have repeatedly caused significant volatility in the market in recent weeks. Notable traders, like James Wynn from Hyperliquid, have also made headlines with large leverage positions. Although these trades sometimes end with significant losses, they still attract considerable attention from the community.

Such strong leveraged trades are also part of the reason why the Bitcoin market is always highly volatile. When a whale executes a large trade, its impact can trigger a chain reaction among retail traders, leading to changes in liquidity and the value of BTC.

The price zone determines the breakout of BTC

Currently, Bitcoin is still in a narrow trading range, and breaking this range is a decisive factor for traders to make decisions about increasing or decreasing their exposure to BTC.

Famous trader Daan Crypto Trades commented:

"In this range, there are many long positions built on both sides, and it is clear to see where the liquidity lies. Currently, I don't see any trading opportunities, but I will wait for a price sweep up high or down low and observe the reaction from there. The levels of $100K and $110K on the long timeframe are still the deciding factors in June."

This means that the absence of a strong breakthrough is making the market appear stagnant. However, a price breakthrough could lead to strong price increases or significant corrections.

Additionally, Crypto trader Tony also stated that to ensure a short-term bullish trend, BTC needs to maintain a price level of 104,500 dollars until the week ends. This will be a crucial factor for traders to confirm the strong growth momentum of Bitcoin in the near future.

Given the current situation, traders are closely monitoring Bitcoin's movements, especially as the price levels of $100,000 and $110,000 are considered important levels in June. Maintaining these price levels will be the key to determining Bitcoin's direction in the short term.

While the market is still rife with instability, it cannot be denied that Bitcoin is seeking positive signals from large investors and important liquidation events. This indicates that the crypto market continues to attract strong interest from investors and traders worldwide.

The strong volatility of Bitcoin in recent days, with huge leverage positions and the influence of Bitcoin whales, has created a new wave in the crypto community. However, it is still too early to talk about the sustainability of this price surge, as Bitcoin still needs to break out of the narrow trading range to confirm the next trend. Signals from top traders will be a crucial factor helping investors make the right decisions in this highly volatile market.

Itadori