After a brief consolidation, the Bitcoin bulls intensified their activity just before the weekly close, helping the BTC price to record one of the highest closes ever. The current price action suggests the token could now be heading towards the psychological target at $125,000, which could be a new ATH. Meanwhile, the trading volumes remain within the range without displaying a spike, hence pointing towards a potential correction.
Now that it seems the bears are supporting the BTC price rise by staying passive, the question is whether the bulls can maintain the rally above $125,000.
The BTC price surpassed the crucial area around $120,600, which pushed the price beyond $121,800. Currently, the token is struggling to secure the range above $122,000 as the buying pressure is declining at this range. However, this does not suggest the BTC price may soon trigger a pullback, which may further transform into a correction as the whales and bulls are leaving no stone unturned to push the price beyond $125,000.
As the BTC price broke down from $120,000, after multiple failed attempts to surpass it, the traders quickly entered into long positions. The area around $120,500 was heavily accumulated by them, which flashed the possibility of a deeper correction once the price surpasses these levels. The price could have dropped, but a Bitcoin whale deposited nearly $6 million into Hyperliquid and prevented the long liquidation.
The data shared by Lookonchain shows the whale is now holding about 1,266 BTC worth $154 million, with the liquidation price around $127,780. If the BTC price surges to these levels, the trade could get liquidated, and the whale is feared to lose over $12.5 million.
The Whale adding $6 million USDC to avoid liquidation means they are still confident that Bitcoin could go higher, instead of closing their position. These large traders often have a huge market influence, and defending such a big position can help support the prices. Therefore, here’s a quick BTC price scenario map based on the whale’s liquidation zone.
Bitcoin’s surge past $122,000 has drawn attention to a major whale defending a $154M BTC position by adding $6M USDC on Hyperliquid. The critical liquidation point at $127,780 is now a decisive level for short-term market direction. Holding below it could keep bullish momentum alive, pushing Bitcoin price toward $125K and beyond. However, crossing it may trigger a rapid sell-off. The coming 48 hours will be pivotal for BTC price action, with traders closely monitoring this high-stakes battle.
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