In latest Bitcoin news, two whale traders have each opened Bitcoin long positions worth $115 million and $20 million respectively.
These two high-cap positions indicate growing confidence in Bitcoin price despite the recent retracement to $108,000.
Whales Open Multi-Million Dollar BTC Long Positions As Price Drops To $108K
As per Bitcoin news reports, data from recent trading activity shows a massive $115 million Bitcoin long position opened using 13x leverage, signaling strong bullish conviction.
The entry price hovers around $110,123, while the unrealized profit already exceeds $670,000, marking a 7.65% gain in a short window.
A second trader also opened a $20 million Bitcoin long position at around $110,590 per coin. Both trades hinted at the growing conviction among whales and smart traders about Bitcoin’s short-term and long-term prospects.
Bitcoin News: Expected Volatile Retest Phase
According to expert analyst Rekt Finance, Bitcoin continues to trade within a key consolidation range, and price action is showing signs of a healthy retest after recent volatility.
The weekly chart suggests that a dip toward the 21-week EMA (green line) — currently hovering around $111,000 — remains a real possibility.
This area has historically served as a strong dynamic support during mid-cycle corrections.
Despite short-term pressure, Bitcoin price has repeatedly defended the mid-$110,000 zone but failed this time, allowing the cryptocurrency to slide towards $108,000.
However, the current pullback appears more like a retest than a reversal.
A weekly close above $114,500 would be technically significant and would confirm the largest cryptocurrency’s success in completing its retest phase.
If this happens, the doors could open for Bitcoin to skyrocket past $120,500 and $123,580.
In a further Bitcoin news update, analyst Daan Crypto Trades maintains that Bitcoin remains firmly within its established range.
According to him, it is showing clear signs of hesitation after being rejected twice around the $116K resistance zone.
Meanwhile, price has drifted lower and continues to hover near the high-volume node between $109,000 and $111,000.
This price range has served as a price magnet and could be the springboard that launches Bitcoin to a new record high.
Zooming into Daan’s chart, Bitcoin is trading around the 4H 200EMA (blue), having recently slipped below the 200MA (purple).
This crossover is a signal for the loss of short-term momentum after the strong rally that took place in previous sessions.
Bitcoin News: Megaphone Pattern Reveals Imminent Rally
Every bullish pattern observed in Bitcoin news has historically paved the way for an upside breakout for BTC. The current chart tells a familiar story.
Over the past two years, BTC has repeatedly consolidated in well-defined bullish formations. Each time it went higher with strong momentum.
The formation suggests that buyers are gradually regaining control, pushing against resistance while defending key higher lows
Each previous consolidation on the chart, whether a flag, wedge, or channel, has eventually given way to a powerful upward expansion.
The current setup mirrors those earlier stages remarkably well. If this pattern follows the same path, Bitcoin could soon be gearing up for another decisive breakout.
The technical picture remains constructive. Momentum is steady, trend structure is intact, and historical patterns continue to support a bullish continuation scenario.
In short, Bitcoin news may flash headlines featuring a massive BTC USD price breakout in the foreseeable future.