A whale injected $29.85M into Hyperliquid, building a $412.5M BTC long, showing extreme confidence amid strong on-chain fundamentals.
Bitcoin's 99% profit ratio, rising whale activity, and $1.24B net outflows indicate bullish sentiment and institutional accumulation.
A confirmed bull flag with a $144K breakout target strengthens the bullish outlook as BTC consolidates near key support at $110K.
A massive whale is making waves in the crypto market, expanding a high-leverage long position on Bitcoin via Hyperliquid. According to Spot On Chain, the investor injected an additional $10 million USDC into Hyperliquid, bringing their total to $29.85 million. This move pushes the position to 3,765.6 BTC—valued at $412.5 million—within just two days. The wallet began by transferring $19.85 million from Bybit, placing a 20x long bet with an entry price of $108,569.7. As of now, the whale’s liquidation level sits at $102,815.
Moreover, this high-stakes activity comes during a period of widespread on-chain strength for Bitcoin. IntoTheBlock data shows 99% of BTC holders remain in profit, with only 1% incurring losses. There are currently zero breakeven addresses, underscoring broad profitability across the network. 75% of holders have kept their BTC for over a year, revealing long-term convictions. Another 20% held between one and twelve months, while just 4% held less than a month.
Whale Behavior and Network Strength
Additionally, Bitcoin’s network is seeing heightened activity. Large transaction volume hit $149.53 billion over the last seven days. This spike signals sustained whale and institutional participation. On-chain flows also show net outflows of $1.24 billion from exchanges. Hence, investors are opting for self-custody rather than selling, reinforcing a bullish outlook.
Source: IntoTheBlock
Large wallets now control 12% of Bitcoin’s total supply. This moderate level of concentration illustrates strategic accumulation among major players. Bitcoin’s role as the market benchmark remains firm, with its price correlation holding at 1.
Bull Flag Signals a Parabolic Move
Technical analysts are also growing optimistic. Merlijn The Trader reports a confirmed bull flag on the daily BTC chart. From February to March, Bitcoin fell from $105,000 to near $75,000. However, April began a recovery phase, pushing prices back to $110,000.
Source: Merlijn The Trader
This recovery forms the flagpole of the bull flag pattern. Between late May and June, Bitcoin consolidated between $100,000 and $110,000. This created the flag structure. Consequently, a breakout above $110,000 could target $144,000, based on the pattern’s measured move.
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