Bitcoin Volatility Intensifies as Whale Activity Sparks Market Turbulence
Bitcoin’s price dipped below $107,000 amid significant whale activity on Hyperliquid, with a single entity allegedly triggering a 1.3% drop by closing a massive $1.25 billion long position. The same whale has now opened a $111.8 million short, adding bearish pressure. Analysts highlight the growing impact of large derivatives trades on BTC’s price movements.
Bitcoin Extends Slide Below $107,000 Amid Wild Whale Activity on Hyperliquid
Bitcoin’s retreat from all-time highs appears linked to frenzied whale activity on Hyperliquid. A single entity, identified as James Wynn, allegedly triggered a 1.3% price dip by closing a $1.25 billion long position—previously the platform’s largest trade.
The same whale has now opened a $111.8 million short position, compounding bearish pressure. Analysts note such outsized derivatives activity increasingly influences spot markets, with Hyperliquid emerging as a key venue for high-stakes crypto speculation.
Bitcoin Corrects Sharply Amid Trump Tariff Concerns, Technical Support Tested
Bitcoin tumbled below $107,500 as markets reacted to renewed trade war fears sparked by former President Donald Trump’s tariff threats. The sell-off triggered a cascade of liquidations, with the flagship cryptocurrency establishing strong volume-based resistance near $108,300.
Technical analysts note critical support forming between $106,700-$107,000, a zone that held during the late Friday trading session. The 22:00-23:00 UTC window on May 24 saw particularly aggressive selling, with 16,335 BTC changing hands in a single hour.
Market structure suggests Bitcoin now trades within a compression zone, bookended by competing fair value gaps. A decisive break above $109,000 could fuel a rally toward $112,000 resistance, while failure to hold $107,000 may precipitate a test of $106,000 liquidity.
Crypto Investor Charged in Brutal Kidnapping Case Over Bitcoin Access
A Manhattan cryptocurrency investor stands accused of orchestrating a weeks-long kidnapping and torture scheme to extract digital wallet credentials from an Italian national. John Woeltz, 37, pleaded not guilty to four felony charges including kidnapping for ransom during a Saturday arraignment. The court denied bail, remanding him in custody until a May 28 hearing.
The victim endured extreme violence—beatings, electric shocks, and saw lacerations—inside a $30,000-per-month Soho townhouse rented by the suspect. Prosecutors allege the abduction occurred shortly after the Italian national arrived in New York on May 6. While a female accomplice was briefly detained, her involvement remains unclear.
This case highlights the dark underbelly of crypto wealth accumulation, where physical violence intersects with digital asset security. The incident may fuel regulatory scrutiny around anonymous wallet access methods, though market impact appears contained given the isolated nature of the crime.
Kiyosaki Warns Against Traditional Savings, Advocates for Bitcoin and Precious Metals
Robert Kiyosaki, author of "Rich Dad Poor Dad," has issued a stark warning to savers, claiming that adherence to outdated financial strategies keeps many trapped in poverty. His critique centers on the obsolescence of fiat currency savings, particularly the U.S. dollar, in an era of inflationary pressures and monetary debasement.
The financial guru reiterates his two fundamental laws of wealth: the imperative to store value in hard assets like gold, silver, and bitcoin (BTC), and the necessity of leveraging network effects. He draws parallels between Bitcoin’s exponential growth and established network-based businesses like FedEx, contrasting them with lesser cryptocurrencies that fail to achieve similar scale.
Kiyosaki’s commentary reinforces his longstanding thesis that financial freedom requires rejecting conventional wisdom about money. His advocacy for cryptocurrency and precious metals positions them as essential hedges against what he views as a failing fiat system.
Pakistan Allocates 2,000 MW Excess Energy to Bitcoin Mining and AI Data Centers
Pakistan’s Finance Ministry has unveiled a plan to allocate 2,000 megawatts of surplus electricity to Bitcoin mining and AI data centers. The MOVE aims to address the country’s energy surplus while stimulating economic growth through foreign investment in high-tech industries.
Finance Minister Muhammad Aurangzeb framed the initiative as part of a broader strategy to utilize stranded energy assets. Pakistan’s grid currently faces paradoxically high tariffs despite generating excess capacity, driving many consumers toward alternative energy solutions.
The government plans to prioritize renewable energy sources for these operations, aligning with global sustainability trends in cryptocurrency mining. This development positions Pakistan alongside other energy-rich nations leveraging crypto mining to monetize surplus power generation.
