2 weeks ago
Bitcoin saw a mild bounce during aboriginal trading successful Asia, rising 3% to concisely interaction $110,256 earlier settling astatine $109,652, CryptoSlate information showed. This uptick followed a play pullback from recent grounds highs.
Market analysts suggest that BTC’s terms trajectory remains solid, backed by favorable regulatory developments and dependable organization participation.
Valentin Fournier, Lead Analyst astatine Blockhead, told CryptoSlate:
“The rebound shows the existent market’s dependence connected organization and firm flows. Without them, short-term rallies are astatine hazard of losing momentum.”
However, portion the broader marketplace shows signs of resilience, the rebound triggered important liquidation activity.
One high-stakes trader connected decentralized level Hyperliquid was forced to exit a $1 cardinal abbreviated position, illustrating the volatility-driven risks tied to utmost leverage.
High-stakes Bitcoin stake connected Hyperliquid
Over the weekend, crypto trader James Wynn became the halfway of attraction aft placing 2 consecutive billion-dollar bets connected Bitcoin.
On May 24, helium opened a agelong presumption worthy astir $1.25 billion, utilizing 40x leverage and expecting the terms to surge to betwixt $118,000 and $121,000.
However, that bullish stake was short-lived. He closed the commercialized astatine a $13 cardinal nonaccomplishment and pivoted to a bearish abbreviated presumption of adjacent size successful little than 24 hours.
But BTC’s terms rebound besides near that bearish commercialized underwater, costing him different $15.87 cardinal successful conscionable 15 hours.
Despite the back-to-back losses, Wynn remains profitable overall.
Blockchain investigation level Lookonchain reported that the trader withdrew $28 cardinal USDC from Hyperliquid and ended the play with a nett net of $25.2 million.
Over the past 75 days, helium has completed 38 trades connected the platform, winning 17 of them and contributing $2.31 cardinal successful trading fees to Hyperliquid.
Meanwhile, Wynn is backmost successful the crippled arsenic of property time. Lookonchain reported that helium has reopened a 40x agelong presumption worthy $75.34 cardinal (684 BTC), with a liquidation terms of $103,120.
He besides entered a $20 cardinal agelong connected memecoin PEPE astatine 10x leverage. As of his latest update, the presumption shows an unrealized summation of astir $434,867.
The station Bitcoin terms rebound to $110,000 wipes retired a $1 cardinal abbreviated connected Hyperliquid appeared archetypal connected CryptoSlate.
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