Key points:
Bitcoin sees some weekend volatility as Hyperliquid’s notorious James Wynn flip-flops between short and long BTC.
Short timeframes show bulls staying “in control” of BTC price action.
The weekly and monthly candle closes have a chance to become Bitcoin’s highest ever.
Bitcoin (BTC) passed $108,500 into the June 29 weekly close as familiar “whale games” combined with bullish market structure.
BTC/USD 1-hour chart. Source: Cointelegraph/TradingView
Bitcoin hits two-week highs as James Wynn returns
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD gaining 1% on the day to near two-week highs.
“Out-of-hours” trading conditions meant that lower liquidity allowed for more volatile market moves on less volume.
News that now-infamous Hyperliquid trader James Wynn had opened a $13.9 million BTC short position thus sparked what appeared to be an attempt by other market participants to liquidate it.
Wynn’s liquidation price was $108,630 at the time of writing, with Bitcoin inches from reaching that level. Wynn closed his short prematurely, flipping long with around 60 BTC.
Bullish on $BTC?
James Wynn(@JamesWynnReal) has closed his short and flipped long on $BTC.
Aguila Trades(@AguilaTrades) is doubling down, increasing his long to 2,201 $BTC ($238M).https://t.co/FX6sISWuDPhttps://t.co/1Aq6gywbqf pic.twitter.com/HB61RN0Gnv
— Lookonchain (@lookonchain) June 29, 2025
Elsewhere, chart analysis saw encouraging signs that Bitcoin market strength would continue.
“If you look at the 15-minute chart, the structure is bullish,” popular trader Autumn Riley wrote in part of ongoing commentary on X.
“Every time price sweeps a high, it reacts down but keeps making higher lows. The pressure from sellers is fading slowly.”BTC/USDT 15-minute chart. Source: Autumn Riley/X
Fellow trader BitBull, meanwhile, noted a golden cross playing out on Bitcoin’s Moving Average Convergence/Divergence (MACD) indicator — a sign that near-term price action was outperforming.
“Another signal which shows that bulls are in control,” part of an X post on the topic reported.
“Right now, we are in a low…..
