$255 million long puts Bitcoin whale in spotlight

$255 million long puts Bitcoin whale in spotlight

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD slicing through nearby resistance to hit $106,500, up 1.7% on the day.

The move sparked short liquidations, something that commentators had already expected.

Monitoring resource CoinGlass showed liquidity being replenished higher up exchange order books.

While their motives remained unknown, similar whale trades have influenced market trajectory considerably in recent weeks.

One trader in particular, Hyperliquid’s James Wynn, made headlines on several occasions with large leveraged positions, many of which were closed at significant losses.