A mysterious crypto whale has quietly amassed a huge leveraged position in Bitcoin

This aggressive bet now gives the trader exposure to nearly 3,900 BTC—worth around $425 million—with an average entry near $108,600.

A mysterious crypto whale has quietly amassed a huge leveraged position in Bitcoin, deploying nearly $30 million in several transactions over three days.

On-chain data from Lookonchain reveals that the investor began by transferring $10 million in USDC to the Hyperliquid platform, where they opened a 20x long position.

Further deposits to Hyperliquid followed, incrementally adding to the collateral and enlarging the leveraged position. In total, the trader has put up over $22 million, which grants them exposure to nearly 3,900 BTC at an average entry price of around $108,600.

At current prices above $110,000, the position’s liquidation point is at $103,100, and the trader is already sitting on unrealized profits exceeding $3.5 million.

This move comes amid renewed bullish sentiment for Bitcoin, which broke above a key resistance level at $110,000, opening the door for the next leg up toward $150,000 according to analysts.

TradingShot highlighted that BTC has broken out of bearish setups and is repeating historical patterns that previously led to triple-digit gains in several timeframes.

This time, the recovery from the 2022 bear market is unfolding with even stronger buying pressure, suggesting the potential for even greater price increases.

Those interested in entering the market at current prices may find the current zone between $107,000 and $108,000 a strong buying opportunity before another leg up, according to renowned cryptocurrency analyst Michaël van de Poppe.

Meanwhile, PlanB’s model projects BTC could close June near $130,000 if the current momentum holds. In the long term, Bernstein continues to forecast a rise to $200,000.

Institutional demand is also fueling the rally. Strategy (formerly MicroStrategy) added 1,000 BTC this week, and Bitcoin ETFs now hold over $120 billion AUM, highlighting its growing status as a mainstream financial instrument.