Watermelon Gazpacho

Name: Watermelon Gazpacho
Ingredients: 8 cups coarsely chopped seedless watermelon, plus ½ cup finely diced seedless watermelon; ½ loaf country bread, crust removed and torn into small pieces (about 4 cups); ½ cup extra-virgin olive oil, plus more for drizzling; ⅓ cup tomato juice, preferably low-sodium; ⅓ cup water; 2 tablespoons sherry vinegar; 2 tablespoons fresh lemon juice; ¼ teaspoon cayenne pepper; Salt; 4 toasted bread rounds; Piment d'espelette (or mildly hot paprika), for serving