Whale School: $94M in Levered Longs Says $64K BTC Rejection Is Just a Pop Quiz 🐳

Two large Bitcoin [BTC] traders opened leveraged long positions totaling roughly $94 million as BTC rebounded from $57,000 and approached the $64,000 resistance level. Bitcoin traded near $63,240 at press time, up 0.18% over 24 hours and almost 6% over the past week, after facing rejection near $64,000 three times.

According to Lookonchain, one whale opened a 40x long on 1,000 BTC worth $63.8 million, showing an unrealized profit of $698,000 after paying about $14,000 in funding fees. A second whale opened a 20x long on 470.4 BTC worth roughly $30 million, with an unrealized loss of $374,000 after paying about $5,000 in funding fees.

Bullish positioning also showed up in spot-side metrics. The Long/Short Ratio climbed above 1 across major exchanges, with Binance at 1.3 and OKX at 1.4, indicating longs outnumbered shorts on both platforms.

Derivatives flows, however, continued to lean bearish. The Derivatives Taker Buy Sell Ratio stayed below 1 for a second straight day, standing near 0.88 at press time. Over the past 24 hours, Futures Outflows reached $18.9 billion against $18.7 billion in Futures Inflows, pushing Futures Netflow down 146% to a negative $233 million.

Technical indicators pointed to gradual buyer recovery. The Relative Strength Index held between 49 and 53, while the Stochastic Momentum Index climbed to 63. A decisive break above $64,000 would open a path toward $65,800, while broad long liquidations could pull $BTC back toward the $62,000 support level.