- After three liquidations, James Wynn returns to high-stakes trading, placing a $36.7M BTC long with precise margin control.
- Bitcoin holds firm above $100K as whales and ETFs absorb supply, signaling confidence despite a tightening price range.
- BTC’s shallowest bull-cycle drawdown, rising sentiment, and leveraged whale longs hint at a breakout above $111K soon.
Bitcoin is consolidating just below its all-time high (ATH) of $111.7K, with $100K emerging as a structurally vital level for both short-term sentiment and longer-term positioning. According to Glassnode, Bitcoin’s recent price action has formed a tightening range between $100K and $111.7K, with $100K acting as a strong support zone amid elevated volatility near resistance.
The psychological impact of the six-figure mark, paired with aggressive dip-buying, signals deep market confidence. Traders are defending this level vigorously, helping solidify it as a key pivot point. With momentum holding above $90K and higher lows consistently forming since January 2024, Bitcoin remains on a steep bullish trajectory.
Institutional Flows Drive Bullish Narrative
On June 10, spot Bitcoin ETFs recorded $431.2 million in net inflows, acquiring over 3,910 BTC in a single day. This surge in institutional demand reflects growing long-term confidence, with ETFs continuing to absorb circulating supply during price consolidation phases.
ETF flows have become pivotal in sustaining upside pressure since 2024. As macroeconomic trends and portfolio diversification drive capital toward crypto exposure, these funds are supporting price resilience near ATH levels, minimizing volatility, and fueling further accumulation.
Whales Place High-Leverage Bets
Whale activity reinforces this bullish momentum. A major trader recently opened a $400 million BTC long on Hyperliquid, using 20x leverage and entering at $108,569. With liquidation set at $105,383, the position now holds over $4.5 million in unrealized profit, reflecting high conviction with tightly controlled risk.
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Another notable trader, James Wynn, mirrored this strategy with a $36.7 million BTC long at $105,306, currently over $1.4 million in profit. His precise entries and strategic margin use signal calculated bullish positioning during this consolidation phase.
Sentiment and Technicals Confirm Strength
Bitcoin’s Fear & Greed Index has climbed from Extreme Fear in April to 70 in June, coinciding with BTC’s rally from $85K to $ 109 K. While historically such sentiment peaks precede corrections, the current drawdown remains just -9%, the shallowest in any Bitcoin bull cycle, according to Glassnode.
Technically, the uptrend remains intact. The 111-day SMA ($92.9K), 200-day SMA ($95.4K), and 365-day SMA ($81.7K) are all rising, offering layered support beneath current prices. Bitcoin is currently trading at $109,494.40, just 2% shy of its ATH. With whales leveraged long, ETFs absorbing supply, and sentiment climbing, a breakout into price discovery appears imminent.
