A Hyperliquid DEX whale has placed an $80 million bet that Bitcoin will crash and oil will rally, but data show this trader has lost millions in the past.
Technical charts show Bitcoin and altcoins on the verge of a bullish trend reversal, but Bitcoin’s resistance at $69,000 could cap the current upward momentum.
A shallower Bitcoin drawdown than previous cycles "indicates a maturing market with reduced volatility and stronger institutional confidence," said Nick Ruck, director of LVRG Research.
The Crypto Fear and Greed Index remains pinned in the "extreme fear" zone, but Bitcoin’s lengthy consolidation phase above the $60,000 support may be a positive sign.
Bitcoin rallied to $68,000 as markets responded positively to the prospect of the US and Israel-Iran war ending, but data shows futures traders are not convinced.