Alita Finance narxiALI

why is ayatollah ali khamenei stopping the btc breakout

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Analyst: $2,750 is Ethereum’s current key resistance level According to on-chain analyst Ali, Ethereum is currently facing a key resistance level of $2,750. Analysts said that investors should wait for the price to close above $2,750 for a sustained period before turning bullish. If it fails to break through, the price of Ethereum may fall back to $2,500 or even $2,380.

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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. 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 Bitcoin traded at $106,538. As of this press time, Bitcoin is trading at $107,459, so the whale’s bet is at a profit of $861,828. However, the use of 20x leverage exposes the position to swift liquidation if the price moves unfavorably by just 5%. Notably, the whale’s identity remains unknown. However, the immediate deposit and trade via a new wallet point to strategic intent. Traders and analysts suggest the move could be based on bullish expectations for Bitcoin’s short-term performance. Large leveraged trades often send signals to retail investors and institutional players. If the whale’s position proves correct, Bitcoin could continue its upward momentum and possibly test a new all-time high. Analyst Michaël van de Poppe noted that Bitcoin is showing strength as it surpassed the $106,500 level he previously highlighted. He expects acceleration if Bitcoin holds above key support levels, driven by increased day trader activity and the closing of short positions. According to him, a move toward $108,900 could trigger even faster gains. He sees this as a strong start to the week, with bullish momentum building. Related: Bitcoin Asia Rolls Out Free General Admission to Broaden Access to 2025 Conference Meanwhile, analyst Ali Martinez suggested that Bitcoin could reach as high as $110,000, a price level that would put it within striking distance of its $111,980 all-time high. He also cited a breakout above a key resistance level as a factor influencing the bullish perspective. Essentially, bullish technical formations on the Bitcoin chart may be influencing the whale who has opened a massive 20x leveraged position on Bitcoin. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.