Main Points:
- Infamous Hyperliquid trader James Wind alternated between short and long positions, driving weekend volatility.
- Short-term charts continue to favor bulls, with higher lows on each dip.
- Weekly and monthly candles may record all-time high closing prices.
Market Overview and Article Summary
Bitcoin (BTC) surged past $108,500 toward the weekly close on June 29, 2025, combining whale movements with a bullish market structure that historically presages further gains. If the weekly candle closes above $109,000, it would mark the first time Bitcoin ever finishes a weekly period at that level. Likewise, a monthly close above $104,630—the current record—would confirm a breakout from the monthly range, opening the door to the next major leg up.
Whale Movements and Weekend Volatility
“Hyperliquid” trader James Wind made headlines by establishing a $13.9 million short position in BTC (approximately 139 BTC at $100,000 each), only to flip early into a long of about 60 BTC, around $6 million. These moves in low-liquidity, off-hours trading amplified volatility, triggering stops and liquidations as Bitcoin hovered near $108,630, Wind’s liquidation price.
Technical Analysis: Bulls Still in Control
On the 15-minute chart, structural highs and lows clearly favor buyers: each pullback has formed a higher low, indicating diminishing sell pressure. Popular trader Autumn Riley noted, “Every time price makes a new high, the reaction on the pullback forms a higher low,” underscoring a persistent bull-led price action. Meanwhile, MACD on the daily chart has delivered a golden cross, another bullish momentum signal that often precedes sustained upward moves.
Institutional Inflows and ETF Dynamics
Institutional demand continues to bolster Bitcoin’s fundamentals. Spot Bitcoin ETFs in the U.S. have attracted roughly $XX billion in net inflows since their January 2024 debut, outpacing outflows from traditional equity funds ($5.9 billion in May alone) and even gold funds ($678 million outflow). Notably, the ARK 21Shares Bitcoin ETF underwent a 3-for-1 share split on June 16, 2025, lowering per-share prices and broadening retail accessibility after climbing nearly 27 % in Q2.
Derivatives Metrics: Open Interest at Record Highs
CME Bitcoin futures open interest topped $9.6 billion in Q1 2025, reflecting heavy institutional use of leverage around spot ETF flows. Overall Bitcoin futures open interest across exchanges hit a fresh peak of $72 billion, with roughly $1.2 billion in shorts between $107,000 and $108,000 at risk of liquidation—a setup that further boosts breakout odds.
Macro Environment: Diversification and Caution
Global equity funds registered outflows for a second straight week through June 25, as investors booked profits near record highs and braced for key U.S. economic data on output and inflation. This shift in portfolio positioning toward crypto and other non-correlated assets underscores growing institutional interest in Bitcoin as a diversification tool.
Below is a chart illustrating Bitcoin’s last weekly and monthly closing prices relative to the $109,000 barrier.
[Bar Chart: Bitcoin Weekly vs Monthly Closing Prices]
Conclusion
Bitcoin’s push toward a $109,000 weekly close and a $104,630 monthly close represents a watershed moment in its market history. Whale activity and institutional inflows—via ETFs and futures—have fueled a bullish structure validated by technical indicators like higher lows and MACD golden crosses. Against a backdrop of traditional fund outflows and macroeconomic uncertainty, Bitcoin continues to attract capital seeking non-correlated returns. A successful close above these historic levels would not just solidify a new bullish phase but could also catalyze the next major rally, drawing in further demand from both retail and institutional participants.
