However, the technical outlook remains at a critical juncture. According to analysts, if the $68,000 level fails to hold, the recent rise may remain only a short-term liquidity-driven move. On the other hand, a weekly close above this region would signal that bulls are regaining control.

Can Bitcoin Hold Above $68,000?

According to TradingView data, the BTC/USD pair was trading around $68,480 on Bitstamp. This level sits just above the 200-week exponential moving average (EMA), currently positioned near $68,338.

Analyst Rekt Capital noted that Bitcoin is facing resistance from this trendline, suggesting that the latest recovery could turn into a “post-breakdown retest of the EMA into new resistance.” According to the analyst, for Bitcoin to reverse historical tendencies, it must secure a weekly close above the EMA and flip it into support.

On shorter timeframes, analyst Jelle emphasized that holding the 50 EMA ($68,000) as support on the four-hour chart is crucial to confirm the recovery. If bulls manage to break above the 20-day EMA at $69,220, the price could rally toward $74,508. However, this zone is seen as an area where strong selling pressure may emerge.

Could a Liquidity Hunt Push Bitcoin to $80,000?

Many traders are discussing a potential liquidity sweep scenario due to heavy sell orders placed above $72,000.

According to CoinGlass data, Bitcoin tapped liquidity around $70,000, but the main cluster of orders remains above the current price. Approximately $2 billion in sell orders are sitting between $72,450 and $75,000.

If the $75,000 level is broken, it could trigger forced short liquidations and spark a squeeze that may drive the price toward $80,000.

Analyst AlphaBTC stated that unless a strong downside catalyst appears, higher levels are likely to be tested in the coming weeks.

Spot Bitcoin ETF Inflows Support the Upside

Signs of renewed institutional demand are emerging. Data from Farside Investors shows that US-based spot Bitcoin ETFs recorded net inflows for two consecutive days.

A total of $765 million flowed into these products on Tuesday and Wednesday, with $507 million recorded on Wednesday alone — the highest daily inflow since February 2.

According to some market commentators, this rally reflects institutional accumulation rather than retail FOMO. If growing demand pressure combines with a technical breakout, Bitcoin’s upward momentum could strengthen further.

You can freely share your thoughts and comments about the topic in the comment section. Additionally, please don’t forget to follow us on our Telegram, YouTube and Twitter channels for the latest news and updates instantly.

The post Bitcoin at $80,000: Why Are Traders Talking About This Level? appeared first on Coin Engineer.

However, similar whale transactions have notably influenced market trends in recent weeks. This liquidity event is not isolated. Comparable Bitcoin liquidity incidents were observed in May and June as well. The sudden entrance of this large leveraged long position had an immediate and significant impact on the market. 

Notably, investors like James Wynn from Hyperliquid have previously made headlines with large leveraged positions. Such moves deeply affect market dynamics. Following this latest Bitcoin whale activity, the sustainability of the price increase is now under scrutiny. Traders are closely monitoring the situation. According to Coinglass data, liquidity in exchange order books is renewing upward. This development has sparked debates among traders about Bitcoin’s potential breakout from the current tight trading range. 

BREAKING: A Whale has just opened $241 million $BTC long position with 20x leverage. pic.twitter.com/6WcikRQySD

— Mr. WHALE (@MrWhaleREAL) June 20, 2025

Market Analysts’ Comments on Bitcoin’s Future 

Popular investor Daan Crypto Trades emphasized the importance of the current range. In an X post, he stated, “Many positions have formed on both sides within this range, and the liquidity location is clear.” He also highlighted the importance of $100,000 and $110,000 levels for June, noting that potential reactions at these levels should be watched. Another investor, Crypto Tony, suggested that for the short-term bullish scenario to continue, Bitcoin needs to remain above $104,500 until the weekly close. 

SOMEONE JUST WENT ALL-IN ON $BTC

$255,000,000 LONG

20x leverage at $104K

HE KNOWS SOMETHING! pic.twitter.com/BL88Mh1Cc0

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

The market’s reaction to this large leveraged position clearly shows its influence on Bitcoin’s price movements. The reasons behind the $255 million long position remain uncertain. However, the market’s immediate response and subsequent short position liquidations indicate a significant shift in market sentiment. Investors are now focused on whether this move will trigger a decisive breakout from the current trading range. 

NOT INVESTMENT ADVICE 

Also, you can freely share your thoughts and comments about the topic in the comment section. Additionally, please follow us on our Telegram, YouTube and Twitter channels for the latest news and updates.

The post Whale Opens $255M Bitcoin Long, Market Reacts Sharply appeared first on Coin Engineer.