High-Volume Trader Bets $105M on Bitcoin Rebound Amid Market Weakness

Trader 0x50b3 has taken a major leveraged position in the market, opening a 20x long in 1,653.8 BTC worth approximately $105.77 million. The trade was entered at $64,130, with a liquidation level set at $59,076.

The move comes as Bitcoin remains under short-term selling pressure, with the price currently trading near $62,951 after a 2% decline over the past 24 hours.

Even amid the weaker market conditions, the trader has maintained a strong track record. Since June 2, he has completed 100 trades with a 93% win rate, pushing total profits beyond $6 million.

Source: Lookonchain