- Bitcoin Whale 0xab15 opened a 752 BTC long position worth $86.26 million at a 40x cross margin.
- A major limit sell order of 702 BTC is set at $120,000, matching the take-profit level.
- Technical indicators show weakening momentum, with RSI at 47.13 and MACD histogram turning negative.
A high-leverage Bitcoin long worth $86.26 million has been opened by whale address 0xab15, aiming for a $120,000 target. This development comes as Bitcoin maintains a bullish intraday structure, with buyers actively supporting upward momentum across multiple sessions. However, technical indicators show signs of cooling, raising questions about the sustainability of the current rally.
Whale 0xab15 Adds $86M BTC Long, Eyes $120K Exit
According to a Lookonchain post on X, a large BTC long position has been expanded by wallet address 0xab15, now holding 752 BTC. The total value of this leveraged trade is $86.26 million, executed at a 40x cross margin. The entry price stands at $113,678.6.
Recent activity shows multiple open longs ranging between 25 and 42.4 BTC per transaction. A major limit sell order of 702.02 BTC has been set at $120,000 , matching the take-profit target.
With unrealized gains of $774,069.29 and funding costs of $10,044.18, risk remains high. The liquidation level is $110,340. Staked assets total $3,924.68, while spot holdings remain at just $0.30, indicating full focus on perpetual contracts.
Bitcoin’s Current Trajectory Revealed
Tracking the ongoing price trend, CoinMarketCap data as the time of press reveals that Bitcoin gained strength over the past 24 hours, beginning the session near $113,680 and building momentum steadily. The price action showed sharp upward moves, followed by minor dips and quick recoveries, maintaining a solid intraday structure.
Source: CoinMarketCapPrice spikes confirmed strong demand during key market hours. Each dip reversed quickly, forming consistently higher lows across the chart. Volume remained active throughout the rally, increasing during breakouts and slowing slightly during pullbacks. Bitcoin surpassed $114,700 before easing. The chart presented a clear bullish path with limited signs of reversal. Buyers continued to drive momentum across each swing leg.
Can Bitcoin Hold Current Momentum?
According to a TradingView technical analysis, Bitcoin has achieved an intraday high of $115,000.00. The 0.27% increase followed a failed attempt to reclaim the $120,273.08 resistance level. Recent candles reflect smaller ranges and lower volatility, indicating reduced conviction in the current trend.
The price now consolidates beneath resistance, with visible pressure near the $120,000 zone. Support stands at $98,452.13. A deeper support line is seen at $73,885.36. This range has previously marked turning points for Bitcoin’s directional shifts over recent months. The Relative Strength Index (RSI) is reading 47.13, while its moving average is positioned higher at 55.43. The RSI recently dropped from levels above 70, confirming a slowdown from bullish momentum seen earlier.
Source: TradingView( BTC/USD Chart)Since late July, the RSI has stayed below its average line. Meanwhile, the MACD line is now at 291.74 and remains far below the signal line at 1,211.33. The histogram reads –919.59. In early July, green bars indicated strong upside momentum. That momentum has faded, and red bars now dominate. Unless Bitcoin reclaims strength above resistance or finds support, sideways price action may persist in the near term.
