Whales boost Bitcoin and bet on a rise to US$125

• $45 million bet on Bitcoin boosts market
• Short liquidations could total US$5,6 billion
• Hoarders reinforce demand with 50 BTC purchases

A whale's recent move in the cryptocurrency market has raised alarms and expectations. According to Coinglass data, an investor allocated $45 million to Bitcoin with 40x leverage, targeting a price of $125. The liquidation line for this position is set at $105. If the asset reaches the projected value, the transaction could trigger the liquidation of approximately $5,6 billion in short positions, the majority of which are concentrated above $121.

Bitcoin is currently trading just above $114. The risk to leveraged positions is imminent, but data indicates that long-term investors remain steadfast. The NUPL (Unrealized Profit/Loss) indicator for long-term holders remains above 0,5, reflecting that they are still in a comfortable profit zone. Short-term holders, whose portfolios are close to breakeven, have contributed to the selling pressure.

CryptoQuant data shows that these wallets react to small increases by taking profits or minimizing losses. Meanwhile, Binance's cumulative net buying volume plummeted to $1,5 billion on August 1st, the lowest level since July 25th. This decline reflected the liquidation of long positions in the $114 range, with traders being wiped out in a sudden market reversal.

Simultaneously, funding rates on platforms like Binance, Bitmex, and Deribit fell to negative levels. This indicates that more participants are opening short positions, creating an environment conducive to buying pressure in the event of an unexpected rally. This type of asymmetry often fuels explosive movements.

On the demand side, the signs remain robust. Accumulating addresses have added around 50 BTC in recent weeks, while the difference between newly issued coins and those untouched for over a year indicates absorption of 160 BTC in the same period. This data shows that there is more capital inflow than new supply circulating in the market.

Furthermore, the available supply on OTC desks has fallen to 145 BTC—a 74% reduction compared to four years ago. This scarcity outside traditional exchanges indicates that large players are accumulating and holding onto their assets.

Tensions are rising with billions of dollars of exposure in short positions above $121. The whale's aggressive entry could be the trigger needed to turn the tide against the shorts.