$255 million gamble on Bitcoin, bulls in full force! Is the range about to explode?
Bitcoin has surged once again—on June 20th, a massive whale leveraged long position of up to $255 million directly breached the short sellers' defenses, causing the market to skyrocket, peaking at $106,500, a +1.7% increase for the day, with liquidations surpassing $106 million.
This move sent the short sellers to the rooftop, but the question arises—was this a surprise attack or a prelude to a breakthrough?
This “mysterious whale opening large positions and leading the rally” scenario has played out more than once in recent months.
This time, a 20x leverage was applied at the upper boundary of the range, effectively draining liquidity.
From a chart perspective, the $105,000 “range top” is currently being tested, and the market is at a decision point:
If it pushes higher, it could aim straight for $110,000.
If it can't hold and falls back, then it could continue to move sideways.
Big players are getting anxious, and retail investors cannot afford to be confused. Traders like Daan and Crypto Tony are waiting for the crucial closing levels—$104,500 must hold; if it falls, the short-term bullish structure will collapse.
Now is not the time to chase highs, but it could very well be on the brink of a significant breakout.
Do you think this move is a true breakthrough, or just a performance by the whale? Will you follow or not?
