Hyperliquid whale "Downward momentum has weakened... a sharp surge expected"

James Wan, known as a whale on the decentralized derivatives exchange (DEX) Hyperliquid (HYPE), predicted a strong upward trend for Bitcoin (BTC).

On the 3rd (local time), James Wan said on X (formerly Twitter), "Bitcoin currently looks good," adding, "The downward momentum of Bitcoin is weakening based on the 8-hour, 12-hour, and daily charts." He further stated, "When Bitcoin rises, it moves strong and fast," and added, "A sharp surge will come when everyone is off guard."

He also expressed anticipation regarding his own view, saying, "It is now June. If my hypothesis is correct, there will be exponential profits over the next 8 weeks."

Previously, he argued that "the true bull market of Bitcoin has not arrived yet." He explained that the current rise in Bitcoin is only due to the launch of spot crypto ETFs and Donald Trump's inauguration as U.S. president, and does not signal the beginning of a full-scale upward cycle.

As of 7:53 PM, Bitcoin is trading at $105,237 on the Binance USDT market, up 0.78% from 24 hours ago.