Bitcoin bull market 'great validator' comes as James Wynn loses $100M

Key points:

• Bitcoin profit-taking is successful afloat swing, but this tin extremity up sustaining the bull market, Santiment probe argues.

• Coins are spending progressively little clip successful wallets, but the marketplace is not suffering from “short-term speculation.”

• One whale incapable to instrumentality profits is Hyperliquid’s James Wynn, liquidated for $99 million.

Bitcoin (BTC) should bask continued upside contempt hodlers taking profits connected their holdings, says caller research.

In its latest Biweekly Report connected May 29, probe steadfast Santiment stayed bullish connected the marketplace outlook arsenic BTC/USD dropped 10%.

Bitcoin profit-taking tin “help support rally alive”

Bitcoin profit-taking request not beryllium a motion that the bull marketplace is nearing its end, Santiment says.

Analyzing the Mean Dollar-Invested Age (MDIA) metric — magnitude of clip coins walk successful wallets without moving — it revealed that the proviso has begun to activate since mid-April.

“During astir bull cycles, a falling MDIA (meaning mean holding wallets are getting younger) is simply a large validator that bullish momentum volition continue,” it explains. 

“More technically, a falling enactment indicates that aged coins are being brought backmost into circulation, allowing inferior to emergence and an asset’s web to turn and flourish. Since mid-April, erstwhile tensions began to easiness implicit the archetypal tariff announcements, Bitcoin’s MDIA has been dropping steadily.”

Bitcoin MDIA data. Source: Santiment

The mean clip coins are held successful a wallet has decreased modestly implicit the past six weeks, from 443 to 426 days.

While this signals that their owners question to fastener successful profits, Santiment argues that specified behaviour is “necessary to assistance support a rally alive.”

“This adds value to the statement that the marketplace is successful an progressive phase, and not conscionable being driven by short-term speculation,” it adds.

Hyperliquid whale pays a precocious terms astatine $105,000

BTC terms consolidation saw a instrumentality beneath $105,000 aft the May 29 regular close, marking a 10% correction versus its latest all-time highs.

Related: Bitcoin tin scope $200K successful 2025 aft 'obvious' terms breakout signal

Despite this, sentiment remains conspicuously bullish, with statement seeing a “healthy” enactment retest earlier upside continuation.

#Bitcoin - ideate being bearish connected this bullish retest pic.twitter.com/2cyKvmhz8n

— Mags (@thescalpingpro) May 30, 2025

Others enactment continued ample tranches of BTC leaving exchanges, including a 7,000 BTC transaction connected May 30, which trader Merlijn attributed to a single whale entity.

Santiment was meantime among those commenting connected the destiny of one whale successful particular, Hyperliquid’s James Wynn, whose agelong BTC presumption was liquidated for $99 million arsenic the terms dropped beneath the $105,000 mark.

James Wynn trading information (screenshot). Source: HyperDash

“When large longs get liquidated, prices typically determination down sharply due to the fact that the large superior is nary longer propping up price,” it warned anterior to the event.

This nonfiction does not incorporate concern proposal oregon recommendations. Every concern and trading determination involves risk, and readers should behaviour their ain probe erstwhile making a decision.