Hyperliquid Whale Loads Up on BTC and ETH with $79M Bet
A prominent crypto trader known as 'Hyperliquid whale' has taken a significant position in Bitcoin and Ethereum. The trader reopened massive longs during the volatility caused by Powell's speech, adding 1,000 BTC at an average price of $78,780.
The total value of this new position is approximately $79 million, combining 1,000 BTC with 28,000 ETH purchased at $2,490 each. This move comes just three days after the trader booked a substantial profit of $61.72 million on prior positions.
The current market conditions show Bitcoin trading at $79,441.08 within its Bollinger band, with an upper resistance level at $80,446.37. The 50-EMA sits at $76,757.04 as a key support point, while the 200-EMA remains at $69,719.62.
The MACD death cross signal of 697.16 indicates fading momentum in Bitcoin's price action, which could lead to a probable retracement towards the 50-EMA before any further increase.