Whale Investor Makes $71.8M BTC ETH Longs on Hyperliquid
A whale investor has made significant moves on Hyperliquid, opening long positions worth $71.8 million in both Bitcoin (BTC) and Ether (ETH). The investor deposited $8 million in USDC to initiate the trades, with $46.94 million invested in BTC at $78,032 and $24.89 million in ETH at $2,479.
The move comes amid a current price action of $78,792 for BTC, which is testing the upper Bollinger resistance at $78,728.2. The Relative Strength Index (RSI) sits at 72.47 in overbought territory, and the Moving Average Convergence Divergence (MACD) has printed a death cross.
According to analysis, a healthy retracement toward the EMA50 support at $72,606.15 appears probable before continuation higher. This suggests that the market may experience a temporary pullback before resuming its upward trend.