Bitcoin Rises 2% as Veteran Trader James Wynn Opens 40x Leveraged Long, Signaling Potential Bull Run

The Bitcoin price has surged 2% in the last 24 hours to trade at $92341 as of 1:30 a.m. EST as Veteran crypto trader James Wynn shows early signs of a potential bull run for Bitcoin.

Wynn recently reopened a long position after BTC broke the key $93,000 level. Wynn currently holds 124.18 BTC with 40x leverage, valued at about $11.5 million. His average entry price is $91,332, giving him a floating profit of $211,000.

Aside from Bitcoin, Wynn also holds a leveraged position in PEPE, consisting of over 364 million tokens with 10x leverage, worth around $2.6 million. So far, this position has made a profit of $590,000.His trades come as Bitcoin continues recovering in early 2026 amid rising tensions between the US and Venezuela, including the capture of Venezuelan President Maduro.

The broader crypto market is also showing signs of strength. According to CoinMarketCap, the total market cap is $3.16 trillion, with a daily trading volume of $90 billion. The Crypto & Fear Index has turned neutral for the first time since October, and the Coinbase Premium Gap has rebounded, suggesting that professional traders are returning to buying after a slow year-end.

Analysts say that the recent price movements may indicate the end of Bitcoin’s traditional four-year cycle, moving instead toward a log-periodic power-law (LPPL) growth pattern. This model shows Bitcoin in the early stages of a longer growth phase, meaning the current price is still below its trend. Analyst David predicts a year-end target of $218,000 for Bitcoin in 2026.

Supporting this bullish view, spot Bitcoin ETFs have seen inflows of $459 million from late December to early January, with BlackRock’s IBIT fund contributing over $320 million.

Bitcoin Price Parabolic Reversal Signals Potential Rally to $100k

Bitcoin is trading at $92,500,  showing strong bullish momentum after a period of slower movement. The chart displays a parabolic reversal pattern, which usually signals accelerating upward momentum. The curved yellow line on the chart highlights the acceleration in price, suggesting buyers are stepping in more aggressively.

The key support zone is around $84,000–$85,000, marked by the orange area on the chart. This zone has acted as a solid base in the past, preventing further declines when the price tested it. Traders often look at this level as a safety net, as a bounce from this area could signal renewed buying interest.

On the other hand, the next key resistance (R1) is around $94,000–$95,000, shown by the white horizontal line. A decisive break above this resistance could trigger a strong bullish move toward $100,000, which aligns with the potential completion of the parabolic pattern.

Overbought RSI but Bulls in Control

Looking at technical indicators, the RSI (Relative Strength Index) is currently around 72. This indicates that Bitcoin is slightly overbought in the short term. While this can lead to minor pullbacks or consolidation, it does not necessarily mean the trend is ending. In fact, in strong uptrends, RSI can remain in overbought territory for some time, indicating sustained buying pressure.

Price action and projection indicate that Bitcoin could see a small retracement near resistance before continuing higher. This is a normal behavior in trending markets, where temporary pullbacks allow momentum to refresh before the next leg up.

However, the current trend suggests buyers are in control, and higher levels could be reached if momentum continues. If Bitcoin manages to break above $94,000, the next targets are likely around $96,000–$100,000, following the parabolic curve.

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