Bitcoin: Whale Opens 20x Long on 800 BTC

Bitcoin saw fresh leveraged buying as four newly created wallets opened a combined 20x long on 800 BTC worth $47M over the past five days.

Price action on the 4h chart shows BTC at $58718.05 inside the Bollinger Bands with upper resistance at $60823.2 and lower support at $58272.85 while the EMA50 at $60461.67 and EMA200 at $65411.04 define the bearish trend structure; RSI at 39.57 remains neutral and MACD at -497.17 confirms the death cross, so any push toward the upper band could meet selling before a retracement tests the 50-EMA confluence.