On June 20, Bitcoin struck a price of $106,500 as an unknown whale entity opened a massive leveraged long position worth $255 million. This position led to the liquidation of late short positions, prompting traders to speculate on a potential breakout from the current trading range. The whale's actions injected vitality into a market that had previously been characterized by narrow price movements. Analysts noted this pivotal moment as a significant shift, with over $255 million in BTC being leveraged at 20X. Despite this surge, traders remained cautious, focusing on sustainability and key price levels. Market observers highlighted critical indicators, stating that for a bullish sentiment to solidify, Bitcoin needed to maintain a price above $104,500 by the weekly close. Such large-scale trading movements have historically influenced market trends, giving rise to speculation on whether this would signal a lasting price trajectory beyond $100K.

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