Bitcoin has surged, reaching key price levels like $110,000, leading to increased optimism among whale investors about its short-term prospects.
Whale investors are showing bold bets by increasing their long positions as Bitcoin's price rises sharply, with many big investors placing aggressive long bets and liquidating short positions.
The Whale Position Sentiment metric, monitoring orders over $1 million, indicates a positive outlook as major investors stack leveraged bets in favor of further Bitcoin gains.
Market expert Crypto Dan anticipates an upward market trend for Bitcoin, noting a shift towards an upside trajectory since April, with a potential pullback still possible but overall confidence in the market trend being upwards.