Nazia Saeed
Bitcoin surged to $108,000 on June 9 amid renewed bullish sentiment, following one of the boldest leveraged trades of the year and improving macroeconomic outlook tied to US-China trade talks. Analysts say the cryptocurrency could breach its all-time high within one to two weeks, mirroring recent breakout patterns seen in gold and the S&P 500.
Whale wallet “0x1f25” opens $54M BTC long after major losses
The spotlight turned to a newly activated crypto wallet identified as “0x1f25” which placed a high-stakes, $54.5 million long position on Bitcoin using 20x leverage via the decentralized exchange Hyperliquid. Funded earlier the same day with $10 million in USDC, the wallet opened a 511.5 BTC position with an entry price of $106,538 and a liquidation threshold at $88,141.
At current prices, the position is already in the green, showing a paper profit of over $11,000 a modest gain given the scale of the trade but notable amid rising market confidence. The calculated risk, coupled with full cross-margin leverage, suggests strategic intent as the market eyes further upside.
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Market participants are speculating that the individual behind the wallet may be James Wynn, a high-profile Hyperliquid trader known for placing large leveraged bets. Wynn recently endured substantial losses including a $99.3 million liquidation on May 30 when BTC dipped below $105,000, followed by another $25 million wipeout on June 4.
Despite these setbacks, Wynn has maintained an aggressive trading pattern, often re-entering positions quickly and at scale behavior that closely matches the activity associated with wallet 0x1f25.
Macro tailwinds and market momentum align
Bitcoin’s move above $108,000 comes as broader risk markets react positively to encouraging signals from US-China trade talks underway in London. Negotiations began the afternoon of June 9, with early reports suggesting the US may ease tech export restrictions in return for improved access to China’s rare earth materials.
The geopolitical thaw appears to be supporting risk appetite across asset classes. US equities also rallied on the news, while strategists from JPMorgan and Citigroup raised their year-end S&P 500 targets on June 6, citing easing trade tensions and resilient economic data.
That optimism has spilled into crypto markets as well. Since the revised equity forecasts, the digital asset space has added over $190 billion in market capitalization, with Bitcoin leading the charge.
According to analyst Ted Pillows at OKX Partners, Bitcoin is now on the cusp of retesting its all-time high near $110,000. He notes that Bitcoin’s current technical structure mirrors breakout setups recently seen in gold and the S&P 500, both of which surged after breaching key resistance levels.
Some market projections suggest Bitcoin could reach $150,000 by year’s end. If that target is hit, the leveraged whale behind wallet 0x1f25 stands to gain over 225% on the $10 million margin a profit of approximately $22.5 million, barring liquidation. As momentum builds and macro conditions improve, all eyes are on whether Bitcoin’s latest bounce is the start of another record-breaking run.
