Key Points

• Bitcoin cleared ask liquidity Friday, suggesting an attempt to exit its narrow trading range, possibly prompted by short position liquidations.
• An unidentifiable whale trader (est. $255 million) initiated a large leveraged long position in Bitcoin, appearing timed to the market’s immediate reaction.
• Such pronounced moves resembling comparable occurrences during May/June, indicating potential trading strategy repetitions or market maturity.

Bitcoin Breaks Narrow Trading Range as $255M Leveraged Whale Long Ignites Trading Surge

Bitcoin (BTC) experienced a notable price surge this week, overcoming selling pressure (taking out ask liquidity) on Friday as an unidentifiable trader initiated a substantial leveraged long position in the cryptocurrency.

Data from Cointelegraph Markets Pro and TradingView indicated BTC/USD breached resistance around $106,500, rising approximately 1.7% intraday, drawing attention to the $106,500 mark.

SOMEONE JUST WENT ALL-IN ON $BTC 👀 $255,000,000 LONG 20x leverage at $104K HE KNOWS SOMETHING!

— Merlijn The Trader (@MerlijnTrader) June 20, 2025

The breakage appears to have sparked short position liquidations, aligning with analyses anticipating such a move. Liquidity indicators like order books and liquidation heatmaps suggest buying interest materialized higher.

$255 Million Long BTC Whale Position Draws Market Spotlight

Focus has centered on the nature of this big position. A source indicated a whale entity deployed a roughly $255 million long BTC position with 20x leverage, initiating the move after the price dipped near $104,000. The timing signals confidence in further gains.

Similar whales have actively shifted the market’s momentum in the preceding weeks, although the specific entity behind this order remains obscure.

Intriguingly, such significant whale trades potentially exhausting a ranging market pattern, finally breaking the narrow trading range long traders have monitored.

BTC Price Seeks Definitive Range Breakout

With the market pushing beyond its defined range boundaries for the week—lower resistance near $100,000 and higher resistance near $110,000 keying in—readiness to sustain the move was an immediate concern.

Trading commentators noted the cautious stance many held due to the narrow range; exiting it offered a long-awaited catalyst for positioning. James Wynn, a prominent figure from trading venue Hyperliquid, previously held well-acclaimed (and sometimes widely publicized lost) large leveraged positions.

Daan Crypto Trades highlighted the exhaustion of market depth after prolonged sideways movement. “Currently no clear place to take a trade… I will be watching for a range high or low sweep and monitoring the reaction… The higher timeframe $100K & $110K remain key for June,” the crypto trader tweeted, emphasizing the significance of those levels.

Conforming to trader consensus, Crypto Tony underscored the need for Bitcoin to successfully hold the pivotal $104,500 level through the weekend to solidify the temporary bullish perspective.

Bitcoin price top metric with 10-year record says ‘neutral’ at $112K