Whale Opens $425 Million Leveraged Bitcoin Position Amid $110,000 Surge

An anonymous trader, identified by the wallet address “0x1f25…”, has made a significant move in the cryptocurrency market by opening a leveraged Bitcoin (BTC) position worth approximately $425 million. Over the course of three days, the trader deposited nearly $30 million in USDC to Hyperliquid, a decentralized finance platform, to establish a 20x leveraged long position on Bitcoin. The initial deposit was $10 million, followed by an additional $2.35 million the next day, and another $10 million on the third day. At the time of reporting, the position stood at 3,877 BTC, with an entry price of $108,622 and a liquidation price of $103,100. The trader is currently showing unrealized gains of $3.59 million.

This aggressive positioning by the whale coincides with Bitcoin's surge past the $110,000 mark. Analysts have suggested that if technical indicators continue to align, the next potential target for Bitcoin could be $150,000. Prominent crypto analyst TradingShot observed that Bitcoin’s current rally has invalidated several short-term bearish patterns and broken through a critical resistance zone. The analyst noted that Bitcoin recently rebounded at the lower high trendline of a three-year ascending channel, with this price structure appearing thrice in Bitcoin’s ongoing ‘channel up’ formation. Each instance triggered at least a 101% gain. From the April 7 bottom, a 101% rally would put Bitcoin at the $150,000 mark, a clean technical target supported by historical precedent, strong channel support, and renewed breakout momentum.

Analyst Michaël van de Poppe predicted that the current phase is likely a short consolidation period before increased upward momentum. Van de Poppe suggests the ideal buying range sits around $107,000 to $108,000 as BTC prepares for what could be another historic run. If Bitcoin’s relative strength index (RSI) retests 75 by the end of the month, analyst PlanB suggests the June closing price for BTC would be around $130,000. Meanwhile, an investment firm maintains a $200,000 price target, calling it a “high-conviction but conservative” forecast.

Institutional demand for Bitcoin remains robust, with a prominent company buying over 1,000 BTC this week, worth approximately $110.2 million in total. Spot Bitcoin ETFs now manage over $120 billion in assets, highlighting BTC’s transition into a mainstream asset class. At the time of publication, Bitcoin was trading at $109,505, up 0.32% daily and over 3.53% weekly, approaching the key $110,000 resistance level. A sustained break and hold above $110,000 could pave the way toward $115,000, potentially setting up a new all-time high.