High-risk cryptocurrency trader James Wynn is making a U-turn with his Bitcoin gamble. After closing his $1.2B BTC long position, the Hyperliquid trader has opened a new $111 million Bitcoin short with a liquidation price at $149,100. James Wynn Bets Against A Bitcoin Rally With $111 Million Short James Wynn has rocked the ecosystem with a $111.8 million short position on 1,038 BTC hours after closing his previous long position. According to an X post by Whale Insider, the Hyperliquid high-risk trader faces liquidation at $149,1000 with a 40X leverage. The perpetual futures trade follows the closing of a $1.2 billion Bitcoin long position over the weekend. James Wynn faced liquidation at $105K, with experts like CrediBULL Crypto betting against the high-risk trader. Barely 24 hours ago, James Wynn predicted Bitcoin price to climb as high as $121,000, setting a new all-time high this week. However, the new short position… Read More at Coingape.com
Bitcoin price is rising today even after China vowed to retaliate against Donald Trump’s trade war. It rose 8% and moved back above the crucial resistance at $90,000. BTC price will continue to react to the latest trade news and the upcoming US nonfarm payrolls (NFP) data.
Bitcoin Price Rises After China Vows to Retaliate on US Tariffs
BTC and other risky assets jumped on Wednesday, even after China vowed to retaliate against Donald Trump’s tariffs. The retaliation came after Trump boosted his China tariffs from 10% to 20%, a move that will affect trade volume worth billions of dollars.
China has already announced some retaliatory measures. It will levy up to 15% on some US goods on top of the other tariffs it announced last month. Some of these tariffs target sensitive areas of the American economy like agriculture. Also, the government added more American companies to its unreliable entity list and vowed to appeal at the World Trade Organization.
Therefore, Bitcoin price and stocks jumped because the Trump administration appeared to soften its stand on tariffs. Howard Lutnick, the Commerce Secretary, said that the US will be willing to negotiate with the affected countries. Traders also believe that Trump simply wants concessions from its top trading partners.
US Nonfarm Payroll Data Ahead
Bitcoin price is also rising ahead of the upcoming US nonfarm payrolls (NFP) data on Friday. Analysts anticipate that the labor market softened in February because of Elon Musk’s DOGE job cuts.An ADP report showed that the private payrolls crashed to 77k in February from 186k a month earlier.
Weak jobs numbers would be bullish for BTC price because they would boost the odds of Federal Reserve interest rate cuts. Indeed, US bond yields have crashed, raising odds of more rate cuts.
Bears seem to have won the Bitcoin price battle for now as it crashed from $109,200 to $90,000 today. The bulls vs bears power has crashed below zero for two consecutive weeks. While this is often a negative thing, historical data shows that Bitcoin often rebounds when the indicator turns red. For example, it crashed in August last year, leading to a strong rally. It also remained below zero in 2021 and then surged.
Bitcoin is also forming a hammer candlestick pattern that often leads to a breakout. If this happens, it will be the second consecutive hammer that may lead to a strong bullish breakout.
On top of this, Bitcoin is yet to hit the $122,000 target of the cup and handle pattern. This target was established by measuring the cup’s depth and then measuring the same distance from the upper side.
Bitcoin Price Chart
Therefore, a contrarian case can be made even as the crypto fear and greedindex remained in the red. More robust gains will be confirmed if the coin rises above the key resistance at $108,426.
A drop below the support at $73,620 will invalidate the BTC price forecastand point to a crash to $50,000.
The crypto market, led by Bitcoin, has rebounded following Donald Trump’s decision to exempt tech products from tariffs he has imposed on China and other countries. Market participants see this as a positive amid the ongoing trade war between the US and China.
Crypto Market Rebounds As Donald Trump Exempts Tech Products From Tariffs
The crypto market has surged following Donald Trump’s move to exempt tech products from reciprocal tariffs imposed on China and other countries. According to a CNBC report, the US president has exempted phones, computers, and chips from the new tariffs.
The Bitcoin price surged past the $85,000 market following this report, with other altcoins also recording significant gains. This development is undoubtedly bullish for the market as it reduces the severity of the tariffs that Trump imposed on almost all countries earlier this month.
Moreover, this represents a big win for the stock market, with companies like Apple the biggest beneficiaries of this exemption. As such, it is normal for the crypto market to rebound alongside, given Bitcoin’s correlation with stocks.
Meanwhile, this move could also mark the beginning of the end of the ongoing trade war between the US and China. As CoinGape reported, China yesterday announced a 125% tariff on US imports following the latter’s decision to impose 145% tariffs on Chinese goods.
Trump already mentioned that he is looking forward to making a deal with China, which is also positive for the market. Bitcoin and altcoins could witness another massive rally once that happens.
Correctional Phase Could Soon Be Over
In a recent X post, crypto analyst Kevin Capital suggested that the correctional phase could soon be over for the crypto market. He noted that this phase has so far gone according to plan. However, he warned that there is still a lot of work to be done.
The analyst believes it is important for the Bitcoin price to clear the $89,000 level before market participants start feeling good. He added that the macro side also needs to line up for things to start looking really good for the market.
The macro side looks to be progressing well as the Federal Reserve recently revealed plans to provide liquidity if necessary. Meanwhile, the latest CPI and PPI inflation data came in lower than expectations, which could also motivate the Fed to start easing monetary policies.
Crypto analyst Rekt Capital warned that Bitcoin isn’t there yet. He stated that it would be momentous to weekly close above $86,000, as this would potentially set BTC up for a repeat of a mid-2021 breakout. However, the flagship crypto is still away from the bullish weekly close of $86,811.
Solana (SOL) has been struggling below $150 since March 3, with its technical indicators still pointing to a bearish trend. The number of Solana whales has declined in recent days, suggesting some large holders may be reducing exposure.
Meanwhile, Solana’s total value locked (TVL) remains below $10 billion, highlighting weakening engagement in its DeFi ecosystem. For SOL to regain bullish momentum, it would need renewed whale accumulation, a recovery in TVL, and a breakout above key resistance levels.
Solana TVL Stuck Below $10 Billion Since February 22
Solana’s total value locked (TVL) has been steadily declining. It is currently at $8.87 billion, and the last time it surpassed $10 billion was February 22.
TVL represents the total amount of assets deposited in a blockchain’s decentralized finance (DeFi) protocols, serving as a key indicator of network activity and investor confidence.
A higher TVL suggests strong ecosystem engagement, while a declining TVL can indicate reduced liquidity and fading interest.
With Solana’s TVL continuing to drop, it raises concerns about potential weakening demand for its DeFi ecosystem, which could impact SOL’s price, at a moment when the chain and some of its major players have been suffering criticism from the community.
A declining TVL often reflects lower capital inflows and reduced activity in lending, staking, and trading protocols, limiting upward price momentum.
For Solana’s bullish case to strengthen, its TVL would need to stabilize and recover, signaling renewed investor confidence and increased network utility.
Whales Stopped Accumulating SOL
The number of Solana whales – addresses holding at least 10,000 SOL – grew between February 28 and March 3, rising from 4,953 to 5,053. However, since then, the number has steadily declined, now sitting at 5,023.
Tracking whale activity is crucial because large holders can influence market trends. Accumulation often signals confidence in price appreciation, and distribution often indicates potential selling pressure.
A sustained increase in whale numbers typically suggests strong demand, while a decline can hint at weakening sentiment.
With the recent drop in Solana whale addresses, there are concerns that some large holders may be reducing exposure, which could create selling pressure on SOL.
If this trend continues, it could limit upward momentum and lead to price consolidation or declines.
However, if whales resume accumulation, it would indicate renewed confidence in Solana’s long-term prospects, potentially supporting a stronger price recovery.
Solana Still Struggles to Breach $150
Solana’s EMA lines indicate that the current setup remains bearish, with short-term averages still positioned below long-term ones.
This alignment suggests that downward pressure persists, limiting immediate upside potential.
However, if the trend reverses and buying momentum strengthens, SOL could climb toward $160.7, and a breakout above this level could push it further to test the $180 resistance.
On the downside, if bearish momentum intensifies, Solana price could retest support at $130.
A breakdown below this level could drive the price lower, potentially testing $125.
