Key takeaways:A newly created whale wallet opened a $54.5M 20x long position on Bitcoin at $106,538.Bitcoin nears $108,000 as US-China trade talks and bullish equity forecasts lift market sentiment.Analysts expect BTC to break its all-time high within one to two weeks, mirroring recent breakouts in gold and the S&P 500.Bitcoin (BTC) reached $108,000 on June 9, just as a newly funded crypto wallet executed one of the boldest leveraged trades of the year: a $54.5 million long position on BTC with 20x leverage.Whale already sitting on an $11,000 paper profitThe wallet, identified as 0x1f25, was created earlier today and promptly funded with $10 million in USDC stablecoin.
The trader then opened a 511.5 BTC position on the decentralized exchange Hyperliquid, using full cross-margin leverage.
Source: HypurrScan.ioWith an entry price of $106,538 and a liquidation level of $88,141, the trader is currently sitting on over $11,000 in paper profit, a modest but strategic gain amid increasing market momentum.Some traders believe the whale behind wallet 0x1f25 may be James Wynn, a highprofile Hyperliquid trader who recently suffered massive liquidations.
Source: BARTWynn lost an initial $99.3million when BTC fell below $105,000 on May 30, as two long positions totaling 949 BTC were wiped out.
A week later, on June 4, he took an additional $25million hit when 240BTC in another leveraged position were liquidated.Despite these setbacks, Wynn has quickly opened fresh megabets and maintains a pattern of entering new highleverage trades, matching the aggressive style behind wallet 0x1f25.Source: LookonchainUS-China trade talks boost Bitcoins upside outlookBTCs push above $108,000 came as traders monitored US-China trade talks unfolding in London.
Negotiations began on June 9 afternoon with signs of a diplomatic thaw: The US is reportedly willing to relax tech export restrictions in exchange for more access to Chinas rare earth materials.
Talks may continue into Tuesday if needed, according to officials close to the matter.
Like Bitcoin, US equities have responded positively to the news, indicating an overall positive sentiment among risk traders.BTC/USD vs.
SPX daily price chart.
Source: TradingViewOn June 6, strategists at JPMorgan and Citigroup raised their year-end targets for the S&P 500, pointing to easing US-China trade tensions and stronger-than-expected economic data.
Goldmans David Kostin said markets are beginning to reflect an optimistic growth outlook a sentiment that appears to be lifting crypto as well, with the digital asset market adding more than $190 billion in value since the revised forecasts.Bitcoin eyes new record high in 1-2 weeksBitcoin may retest its record high of around $110,000 and may even cross above it in the coming 1-2 weeks, according to analyst Ted Pillows.Pillows compares Bitcoins current setup to recent moves in gold and the S&P 500, both of which surged after breaking above similar resistance levels.
XAU/USD, SPX, and BTC/USD price trend comparison.
Source: Ted PIllowsHis chart shows all three assets facing horizontal barriers levels where prices previously topped out and Bitcoin now looks poised to follow the same breakout pattern.Related: Bitcoin price will see short-term correction before $140K: AnalystsSome analysts see Bitcoin price reaching over $150,000 by years end, a move that can push the whales profit to around 225% or $22.5 million given his $10 million margin.This article does not contain investment advice or recommendations.
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