Bitcoin Rejected Near $65,000 as Trader Places $105.77M 20x Long

Bitcoin returned to the spotlight after on-chain data showed a major leveraged bet hitting the market, even as technical analysts continue to flag downside risk. According to Lookonchain, trader 0x50b3 opened a 20x leveraged long worth about $105.77 million, representing 1,653.8 BTC. The account is described as a high-frequency trader with 100 trades since June 2, winning 93 of them for a 93% win rate. Total profit is reported to exceed $6 million. The size of the position has drawn attention in current Bitcoin price analysis discussions, as large leveraged exposure from a trader with a strong track record can shape short-term sentiment. Still, the trade does not remove broader risks tied to liquidity swings, macro headlines, and overall market conditions. Not all market participants share the renewed bullish positioning. Analyst Lennaert Snyder said Bitcoin recently swept liquidity around $65,000 before turning lower, arguing the market remains in a broader downtrend despite short-term recovery attempts. He highlighted the $65,000–$66,000 area as a key zone, adding that a liquidity sweep near $64,300 followed by rejection around $65,600 could reinforce a bearish setup. Snyder also pointed to the $60,000–$60,500 region as a potential downside target if sellers regain control. With liquidity conditions still driving positioning, traders remain split on whether the latest move is a relief bounce or early signs of stabilization. Disclaimer: This content is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should conduct their own research before making financial decisions.