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U.Today - Top trader James Wynn, who has been long on Bitcoin recently with high leverage, has published a tweet with a screenshot of a Bitcoin chart. On it, he spotted “bitcoin breaking local downtrend.”
“The reversal has begun,” he concluded. Another trader and entrepreneur, with more than 768,000 followers on the X social media platform (formerly widely known as Twitter), @AltcoinGordon, made a prediction in the comments, saying that he expects Bitcoin to rise to $115,000 by the end of the week. This would mean a new Bitcoin price all-time high.
The most recent one took place on May 22 as Bitcoin came quite close to topping $112,000.
James Wynn agreed with that prediction as he tweeted: “Shorts rekt yes agreed.”
As reported by U.Today, at the end of May, James Wynn closed his massive long Bitcoin position worth $1.25 billion, taking a massive loss of $13.4 million after that. After he did so, the Bitcoin price slipped by 1.3% on the Hyperliquid platform.
Top Bitcoin ETF holders revealed
In a recent tweet, Bloomberg’s ETF analyst, Erik Balchunas, has revealed entities that hold the largest amount of spot Bitcoin ETF shares. He published a breakdown of Bitcoin ETF investors made via 13F filings.On the list of 14 entities, investment advisors stand as number one, holding 124,753 Bitcoin worth more than $10 billion. Those are followed by hedge fund managers with 83,934 BTC, and brokerages, holding 25,964 BTC. Government comes fifth on this list, holding 4,956 BTC in ETF shares worth more than $408.5 million.
Balchunas believes that these 13F filers show about 20% of total assets. As soon as Bitcoin adoption increases, those figures are likely to “rise to 35-40%,” he tweeted.