Garrett Jin Whale Adds 600 BTC Longs at $79,000 Amid Market Fluctuations

A large Bitcoin whale entity known as Garrett Jin has been active in the market, taking advantage of recent price fluctuations. According to recent data, this entity added 600 BTC longs at $79,000, worth a total of $47.4 million.

This move comes after Bitcoin pulled back from its peak of $80,000, and the whale's holdings now stand at 1,868 BTC longs with an average price of $77,090 for a notional value of $147 million. The entity has also incurred an unrealized profit of $2.78 million over three months.

However, the same entity still holds 32,700 ZEC shorts opened at $444, resulting in a notional loss of $25.28 million and an unrealized loss of $10.74 million. This is a reversal from May's profit of $11.24 million on these shorts.

The current price of Bitcoin trades at $78,814.62 within the Bollinger Bands, with the upper resistance at $80,546.84. The Relative Strength Index (RSI) remains neutral at 60.47, while the MACD prints a death cross at 1.361.64.

A technical analysis suggests that a healthy retracement towards the 50-EMA support at $74,603.95 may occur before Bitcoin continues its upward trend.