Bitcoin Trader Locks in $3.94M Profit with BTC Long on HyperliquidX

A Bitcoin trader has reportedly locked in a $3.94 million net profit on HyperliquidX after holding a long position for 60 days.

The trader bought BTC at $59,253 and sold it at $79,883, resulting in a significant gain.

According to the source, price action is currently sitting at $78,815.3 within the Bollinger band, with an upper resistance level of $71,876.39.

The RSI (Relative Strength Index) is flashing overbought at 70.49, and the MACD (Moving Average Convergence Divergence) is printing a death cross, indicating a possible retracement towards the EMA50 support at $73,090.97.