Key Points Review:
James Wynn, a well-known trader on the Hyperliquid platform, frequently switches between long and short positions in Bitcoin, driving volatility in Bitcoin's weekend market.
In the short term, bulls continue to dominate Bitcoin's price movements.
This week and this month’s close is expected to set a new historical record for Bitcoin.
Bitcoin broke through $108,500 before the weekly close on June 29, with "whale operations" reinforcing a strong bullish pattern, collectively pushing the market higher.
According to data from Cointelegraph Markets Pro and TradingView, BTC/USD rose 1% on the day, nearing a two-week high.
Due to the impact of "non-trading hours," market liquidity has decreased, leading to increased volatility with limited trading volume.
Recently known for aggressive trading, Hyperliquid trader James Wynn opened a short position in Bitcoin worth $13.9 million, prompting other market participants to attempt to liquidate his position.
As of the time of writing, Wynn's liquidation price is set at $108,630, just a step away from Bitcoin's current price. Wynn ultimately chose to close his short position early and flipped to long, holding about 60 Bitcoins.
Bullish on $BTC? James Wynn (@JamesWynnReal) has closed his short and flipped long on $BTC. Aguila Trades (@AguilaTrades) is doubling down, increasing his long to 2,201 $BTC ($238M). https://t.co/FX6sISWuDP https://t.co/1Aq6gywbqf pic.twitter.com/HB61RN0Gnv
Elsewhere, chart analysis shows strong signs in the Bitcoin market will continue.
"If you look at the 15-minute chart, the structure is bullish," wrote well-known trader Autumn Riley in a comment on X.
"Every time the price sweeps over a high, it reacts downwards but still maintains higher lows. The pressure from sellers is slowly diminishing."
Meanwhile, another trader, BitBull, pointed out that a golden cross has appeared on Bitcoin's moving average convergence/divergence (MACD) indicator—indicating strong short-term price performance.
"Another signal showing bulls in control," he wrote in a related post on X. "Currently, we are in a low liquidity weekend, so don’t expect significant volatility. Once the market opens tomorrow, I believe volatility will increase, and it is likely to be upward."
Before the weekly and monthly closes, well-known trader and analyst Rekt Capital is focusing on the next key price point.
He stated this weekend that Bitcoin is on the verge of making history, potentially achieving the highest weekly close ever.
He posed the question: "Can Bitcoin close above the last major weekly resistance level? Bitcoin has never achieved such a weekly close. Therefore, if it does, it would not only be historically significant but also propel Bitcoin into a new upward trend, reaching new historical highs."
The current highest weekly close is slightly above $109,000 on Bitstamp. The highest monthly close is lower, around $104,630.
Earlier this week, Rekt Capital stated that a close above $102,400 would be sufficient to confirm a "monthly range breakout."
Related: TRM Labs: Crypto Seed Phrases and Front-End Attacks Lead to Record Losses in 2025
Original: “Bitcoin (BTC) Expected to Set Historical High with $109K Weekly and Monthly Close”
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