Will This Whale’s 20X Leverage Bet Push Bitcoin to a New All-Time High?
- A new wallet placed a $54.5 million long position on Bitcoin using 20x leverage via Hyperliquid.
- The trade was initiated when Bitcoin was priced at $106,538, with a liquidation level at $88,141.
- Analysts suggest the bold move signals bullish sentiment and could contribute to a push toward a new all-time high.
A newly created wallet has placed a high-stakes $54.5 million long bet on Bitcoin. He made the trade through Hyperliquid, using 20x leverage. The move has stirred speculation about its potential impact on Bitcoin’s price direction.
Whale Opens $54.5M Leveraged Position
On June 9, on-chain data revealed that wallet 0x1f25 deposited $10 million USDC into Hyperliquid, a decentralized perpetual exchange. The wallet then opened a 20x leveraged long Bitcoin position valued at $54.5 million, equal to 511.5 BTC.
Related: Binance Users Shed $223 Million in Tether and Bitcoin Holdings to Buy More Ethereum
Blockchain tracker Lookonchain first reported the activity. The wallet had no prior transaction history, suggesting it was created solely for this trade. The wallet’s position has a liquidation price of $88,141. Based on this, the trade was placed when…
The post Will This Whale’s 20X Leverage Bet Push Bitcoin to a New All-Time High? appeared first on Coin Edition.
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Will This Whale’s 20X Leverage Bet Push Bitcoin to a New All-Time High?
- A new wallet placed a $54.5 million long position on Bitcoin using 20x leverage via Hyperliquid.
- The trade was initiated when Bitcoin was priced at $106,538, with a liquidation level at $88,141.
- Analysts suggest the bold move signals bullish sentiment and could contribute to a push toward a new all-time high.
A newly created wallet has placed a high-stakes $54.5 million long bet on Bitcoin. He made the trade through Hyperliquid, using 20x leverage. The move has stirred speculation about its potential impact on Bitcoin’s price direction.
Whale Opens $54.5M Leveraged Position
On June 9, on-chain data revealed that wallet 0x1f25 deposited $10 million USDC into Hyperliquid, a decentralized perpetual exchange. The wallet then opened a 20x leveraged long Bitcoin position valued at $54.5 million, equal to 511.5 BTC.
Related: Binance Users Shed $223 Million in Tether and Bitcoin Holdings to Buy More Ethereum
Blockchain tracker Lookonchain first reported the activity. The wallet had no prior transaction history, suggesting it was created solely for this trade. The wallet’s position has a liquidation price of $88,141. Based on this, the trade was placed when…
The post Will This Whale’s 20X Leverage Bet Push Bitcoin to a New All-Time High? appeared first on Coin Edition.
Read More
How Many U.S. Lawmakers Actually Own Bitcoin? Fewer Than You Might Think