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The Bitcoin price edged up over 1% in the last 24 hours to trade at $109,753 as of 12:33 a.m. EST on trading volume that surged 10% to $30 billion.
This uptick in the BTC price comes as top crypto trader named James Wynn reversed his outlook on Bitcoin, shifting from a long to bearish short position.
Wynn initiated a short of 1,038.7 BTC valued at $111.8 million, at an entry price of $107,711, with the position’s liquidation price set at $149,100.
Top trader @JamesWynnReal has flipped bearish on $BTC, switching from long to short.
He opened a $BTC short position of 1,038.7 $BTC($111.8M) at $107,711.1 an hour ago, with a liquidation price of $149,100.https://t.co/BMeuztgBNE pic.twitter.com/uLypq5kLTj
— Lookonchain (@lookonchain) May 25, 2025
Unfortunately, the short didn’t go as planned with Wynn losing close to $28 million.
BREAKING: TRADER JAMES WYNN JUST CLOSED HIS $1 BILLION #BITCOIN SHORT AT A MASSIVE LOSS
THE BEARS ARE CAPITULATING. BULLISH 🚀 pic.twitter.com/Z2OHsYzuBZ
— The Bitcoin Historian (@pete_rizzo_) May 25, 2025
Bitcoin Price Poised For A Potential Trend Continuation
The BTC price has been on a sustained uptrend since the beginning of April, breaking key resistance zones. In May, the formation of a bullish flag further fueled the bullish outlook.
Bullish pressure pushed the Bitcoin price above the flag, and now trades in between the 0.236 and the 0 Fibonacci retracement levels, according to GeckoTerminal data.
As a result of the sustained uptrend, the price of Bitcoin has now crossed above both the 50-day and 200-day Simple Moving Averages (SMAs).
The 50-day SMA has crossed above the 200-day SMA, forming a golden cross around $92,900, which further fuels BTC’s positive sentiment.
Meanwhile, the Relative Strength Index (RSI) is currently at around 69 and climbing up, which is an indication that the price of BTC is currently in a positive trend.
If the bullish outlook plays out, the Bitcoin price could continue surging, aiming at crossing the 0 Fib level at $112,183, targeting a new all-time high (ATH) at $117,164.
Conversely, if BTC takes a downturn, BTC could go through a correction back to the 0.5 Fib level at $102,805 within the bullish flag.
The Bitcoin rally has prompted investors to seek ways to acquire more Bitcoin and many are turning to BTC Bull Token (BTCBULL), a new BTC-themed project that gives its investors free Bitcoin at certain price milestones.
99Bitcoins, a prominent crypto YouTube channel with over 723k subscribers, predicts BTCBULL will record massive gains after launch.
BTC Bull Token Presale Charges Towards The $7 Million Mark
Unlike many meme tokens that ride short-term hype, BTC Bull Token directly ties its utility to Bitcoin’s performance. This means BTCBULL isn’t just another speculation play.
The token’s roadmap is fully centered around BTC reaching new all-time highs. The project plans to airdrop BTC to its holders when the price of Bitcoin reaches $150K for the first time. More airdrops will follow for every subsequent $50K gain until Bitcoin hits $1 million.
Bitcoin hit $111K. 🐂🔥
The first BTCBULL burn milestone is getting closer. pic.twitter.com/1iHi376vQl— BTCBULL_TOKEN (@BTCBULL_TOKEN) May 22, 2025
Furthermore, to enhance scarcity and mimic Bitcoin’s limited supply, the project will conduct periodic token burns as well, beginning when Bitcoin hits $125K for the first time and continuing every subsequent $50K increase.
So far, investors have sunk over $6.3 million into the project in the early stages of its presale.
Investors can also earn a passive income through the project’s staking protocol, which offers a 64% annual yield.
You can purchase tokens now for $0.00253 using BNB, ETH, USDT, or bank card.
Interested investors will want to buy before the next presale price hike in about 1 day.
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