Analyst: Bitcoin faces fewer upside resistance levels, with $83,300 as the next key resistance level.

According to Lookonchain's monitoring, a whale or institutional entity sold 871,000 HYPE tokens via FalconX over the past six hours, with the transaction valued at approximately $64.82 million.

Renowned trader Doctor Profit stated that Bitcoin has recently rallied past multiple key resistance zones, arguing the current bear market is over and the market is entering the early stages of a bull run. In a single recent day, BTC broke through 4 to 5 full bear market resistance zones, including the bear market resistance band he had previously flagged. He noted this move has undermined market skepticism about the indicator’s validity, adding that only a few key resistance zones remain ahead for Bitcoin; a successful breakout would further confirm the start of a bull cycle. The market is currently in the transition phase from bear to bull, he added. Three price levels are now critical to monitor: $71,500, $78,000, and $82,000. Of these, $71,500 is the most important resistance level at present. If BTC can effectively hold above this zone, or form a weekly closing breakout, the key confirmation of the breakout will be completed. The $78,000 zone also needs to be breached, and once the $82,000 level is broken, the bull run’s upside potential will expand further. Additionally, one of the largest Bitcoin short liquidation events in history has unfolded recently, with some investors missing out on positioning opportunities earlier due to their belief in the four-year cycle or expectations of an August pullback.

Liquid Capital (formerly LD Capital) founder Yilihua stated in a post that after determining the end of the market rebound in May, his primary focus over the past two months has been one key point: the period from July to August could be the final bottom-fishing opportunity for Bitcoin in this cycle. With Bitcoin (BTC) surging past its 120-day and 200-day moving averages on the daily timeframe, and breaking above the 20-week moving average on the weekly timeframe, BTC’s bear market trend has officially concluded. He noted that the market will remain bullish over the next two weeks, but a pullback may occur after BTC rises to a certain level. The subsequent pullback will not exceed 50% of the prior rally’s magnitude; for investors using leverage, he recommends reducing long positions and referencing the weekly trend and pullback levels from Bitcoin’s 2023 bull cycle. Bitcoin has fallen from a peak of $126,000 to $57,000 in this cycle, with a maximum decline of around 56%. He believes this drop has formed the cycle’s low point, and it will be difficult for the market to see BTC prices starting with $50,000 again.

Over the past 6 hours, whales/institutions have sold 871,000 $HYPE ($64.82M) through FalconX.

Not all whales are buying $ETH — some are selling! 7 Siblings sold 14,000 $ETH($32.85M) at an average price of $2,346. Whale 0xFD10 sold 11,252 $stETH($26.5M) and 1,824 $ETH($4.26M) for 30.78M $USDT.

Justin Sun posted on social media that his legal team recently attended a hearing at the U.S. District Court for the Central District of California, opposing World Liberty Financial (WLFI)’s attempt to refer their dispute to confidential arbitration and seal documents from public view. The court upheld Sun’s position, ruling that all his individual claims will proceed in open court. The court also rejected World Liberty’s request that all company-related claims be submitted to arbitration, and ordered both parties to negotiate to determine which claims will remain in court and which will go to arbitration. Sun called the ruling a "major victory", noting that token holders have the right to know how the project team handles investor interests. Justin Sun stated that he is one of the earliest and largest investors in World Liberty, having invested $45 million in WLFI tokens. He alleged that after his investment helped WLFI complete approximately $550 million in fundraising, World Liberty inserted a backdoor into the WLFI smart contract, allowing the project team to unilaterally freeze, restrict, or destroy holders’ tokens. World Liberty had taken related actions against his WLFI tokens and threatened to refer the matter to criminal authorities when he sought legal recourse. Sun’s current claims against World Liberty amount to hundreds of millions of dollars. Additionally, Justin Sun said he learned that World Liberty has similar functions in its USD1 stablecoin, warning users to be alert to potential asset freezing or destruction permissions. Sun also raised questions about World Liberty’s financial status and business arrangements, stating that public information shows World Liberty has deposited approximately 5 billion WLFI tokens as collateral on lending platform Dolomite, borrowing at least $75 million in stablecoins including USD1. He believes these arrangements may pose risks.