The recent entry of two high-leverage long positions totaling $29 million by a major whale, address 0xC50a, signals growing market confidence despite persistent volatility.
At an entry price of $111,658, the whale initiated a 40x long on 149 BTC, valued at approximately $16.65 million, and a 10x long on 284,501 HYPE tokens, worth around $12.49 million.
### What’s up with Bitcoin?
Bitcoin is currently trading close to $111,800, just above the whale’s entry point. This move coincides with a weak but improving price structure. The position is presently slightly negative, showing an unrealized loss of about $14,600. However, the aggressive leverage suggests that 0xC50a anticipates a short-term breakout above the $112,000-$114,000 resistance zone—an area known for triggering a large number of short liquidations.
The 200-day moving average (black line) has served as strong dynamic support across multiple sessions. Bitcoin remains steady above this level on the daily chart, currently around $108,200. Following the steep correction earlier this month, the price recovery from this support level indicates a renewed surge of buyer interest.
### Technical Indicators and Resistance Levels
There is still potential for a more robust upward push before Bitcoin becomes overbought. The Relative Strength Index (RSI) stands at 48, suggesting neutral momentum currently.
Key short-term obstacles include the 50-day and 100-day moving averages at approximately $112,400 and $114,100, respectively. A close above these lines could trigger a swift rally toward the $118,000–$120,000 range, a zone historically associated with significant profit-taking.
### The Foundation Behind the Rally
Given the size of the whale’s position and the use of leverage, even slight price fluctuations could lead to notable liquidations. Nonetheless, this trade appears structurally safe unless a significant macroeconomic shock occurs, as the liquidation price for the Bitcoin long is set near $53,000.
In summary, the actions of whale 0xC50a highlight increasing confidence in a possible short-term bullish breakout, supported by key technical levels and a recovering market structure.
https://u.today/40x-bitcoin-long-spotted-in-the-wild-someone-expects-120000