Bitcoin reflects the bullish of 2017 when whales wagered 100 million dollars at the market peak.

The Bitcoin market is vibrant with both nostalgia and drama. According to technical analyst Merlijn The Trader, the price action of Bitcoin in 2025 is very similar to the explosive bullish run of 2017—but on a much larger scale. Meanwhile, a long-term buy order worth over 100 million dollars from a whale trader has garnered significant attention after reaching what is now considered a local top. 2017 compared to 2025: The same model, larger scale Merlijn emphasizes the chart comparing the similarities between the breakout bullish surge of Bitcoin in mid-2017 and its current price structure in 2025. Both patterns indicate that a subsequent fake bearish move is followed by a strong bullish breakout, but there is one key difference: this time, the move is 27 times larger.

"2025 is not just another bullish run like 2017," Merlijn declared. "It is the super cycle we have been waiting for." On the 2025 chart, BTC has recently confirmed a bullish structure in the 70,000–80,000 dollar range and has now soared past 100,000 dollars. The green and red arrows mark breakout and consolidation phases similar to the bullish run to 20,000 dollars in 2017, reinforcing the potential for exponential growth. Whale Gamble backfires at the level of 105,000 dollars While macro models seem optimistic, short-term volatility remains high. According to DaanCrypto, the notorious "Hyperliquid Whale" has returned with another large bet—depositing 2.5 million dollars to open a long position worth over 100 million dollars at a price of 105,890 dollars.

However, the entry turned out to be a pico peak, with Bitcoin reversing shortly after. The liquidation price of the whale is currently at $104,600, just $300 away from the current price, increasing the likelihood of a quick liquidation if the market decreases a little further. Conclusion As Bitcoin follows a strange path similar to its historic bullish run in 2017—with analysts calling for a super cycle—short-term risks remain. While macro trends may favor the bulls, high-leverage positions such as those held by Hyperliquid Whale exist. These are individuals or organizations that hold a large amount of a specific cryptocurrency, often influencing market trends through their holdings.