Bitcoin: New Wallet Opens $39M 20x Long on Hyperliquid

Bitcoin saw a fresh wallet (0xcfe2) deposit 11.9M USDC into Hyperliquid and open a 20x long on 500 BTC worth $39.44M with liquidation at $55,570.76.

Price action on the 4h chart shows BTC trading inside the Bollinger Bands near $78,795 while EMA50 at $78,948 acts as immediate resistance and EMA200 at $73,912 provides deeper support; with MACD at -235 confirming the death cross and RSI at 46 neutral, a test of upper band resistance at $80,488 could trigger a retracement toward the 50-EMA before any sustained move, shaping near-term BTC price prediction and crypto market crash hedging via crypto derivatives trading.