Bitcoin is staging a modest rebound after several days of intense selling pressure and fear across the market. The leading cryptocurrency has struggled to establish stable support, with volatile swings making it difficult for traders to navigate. Despite the uncertainty, some market participants continue to move strategically — and one of the most well-known whales has just made a big return. Related Reading: Bitcoin Bulls Rely on STH Realized Price Support Cluster: Loss Could Trigger $100K Retest The trader known as BitcoinOG (1011short) — who gained fame for earning over $197 million during last week’s flash crash — is back in action. On-chain data shows that he has deposited $30 million in USDC to Hyperliquid and opened a 10x short position on 700 BTC, worth roughly $75.5 million. This move has drawn the market’s attention, reigniting speculation about whether the whale anticipates another leg down for Bitcoin. While BTC is attempting to recover above the $110,000 mark, the presence of such a large short position highlights lingering bearish sentiment and a lack of conviction among traders. For now, bulls are fighting to stabilize price momentum, but with whales like 1011short back in the game, volatility is likely far from over — and the market may be in for another sharp move soon. Whale’s Short in Profit as Market Tension Rises According to Lookonchain, the whale known as BitcoinOG (1011short) currently holds an unrealized profit of about $880,000, or roughly 11%, on his latest $75.5 million short position opened on Hyperliquid. The trade, placed during Bitcoin’s rebound phase, has quickly gained traction as BTC struggles to sustain momentum above the $111,000 level. This move has sparked unease among investors and traders alike, many of whom view it as a potential warning sign that larger players may be positioning for renewed downside pressure. Still, analysts warn that this might not tell the full story. While the 1011short address has earned a reputation for precision — notably pocketing $197 million during the October 10 flash crash — the transparency of on-chain data has limits. It’s unclear how many positions this whale currently holds across other exchanges or what the exact strategy behind his trades may be. As such, reading his moves as a simple bearish bet could be an oversimplification. The next few days will be critical for Bitcoin’s trajectory. If the whale decides to scale his short further, it could intensify selling pressure and drag BTC toward key support levels. Conversely, if he closes out the position or pivots to longs, it might suggest a short-term market bottom. Either way, the setup points to heightened volatility ahead, with traders bracing for sharp price movements as the market digests this high-profile activity. Related Reading: BNB Active Addresses Hit Record 3.6 Million – Analyst Explains Network Growth Bitcoin Holds Weekly Support, but Resistance Looms Bitcoin is showing early signs of stabilization on the weekly chart, recovering from its October 10 flash crash low near $103,000 to trade around $111,200. The candle structure suggests that buyers are defending the 50-week moving average (blue line), which has acted as a reliable mid-cycle support throughout the current bull phase. However, the broader structure still shows Bitcoin consolidating below the $117,500 resistance — a level that has repeatedly capped rallies since mid-2025. Until BTC breaks above this zone with strong volume, the market remains trapped in a sideways range, with traders positioning cautiously amid high volatility and uncertain macro conditions. Related Reading: New Wallets Move Over $160M In Bitcoin From Binance And FalconX – Details Momentum indicators point to neutral-to-bearish sentiment, reflecting hesitation among bulls after weeks of heavy liquidations. Yet, the presence of higher lows on the weekly chart continues to support the long-term bullish structure, as long as BTC holds above $106,000–$107,000. If price manages to reclaim and close above $117,500, the path could open toward $125,000–$130,000, aligning with liquidity pockets from previous tops. Conversely, a weekly close below $106,000 would shift the outlook bearish, suggesting deeper corrections ahead. Featured image from ChatGPT, chart from TradingView.com
Bitcoin continues to hover around the $112,500 level, with volatility persisting across the market following last week’s historic crash. According to on-chain data, short-term holders (STHs) remain under heavy pressure, showing clear signs of panic. The STH realized price, a metric that tracks the average cost basis of recent buyers, indicates that many traders are still reacting emotionally to price fluctuations. The latest liquidation event seems to have deeply impacted market sentiment — even a small pullback yesterday was enough to trigger another wave of panic selling. Related Reading: Bitcoin Handles $14B OI Drop As Spot Volume Surged To $44B: Controlled Reset? Yet, while some investors capitulate, others are seizing the opportunity. The famous Bitcoin OG whale, who gained widespread attention for shorting BTC and ETH right before the crash, has reportedly closed his position, locking in more than $197 million in profits. This move marks the end of one of the most successful short trades of the year. As Bitcoin stabilizes within a tight range, the market remains divided between fear-driven sellers and opportunistic players positioning for the next major move. The coming days could determine whether BTC finds stability or faces renewed selling pressure from nervous short-term holders. Bitcoin Whale Moves Cause Speculation Lookonchain has tracked a series of high-stakes moves from the trader known as BitcoinOG (1011short) — one of the most closely watched whales in the market right now. The trader reportedly closed all BTC short positions on Hyperliquid, securing more than $197 million in profit across two wallets after last week’s crash. Just hours later, the same wallet transferred $89 million USDC to Binance, immediately sparking speculation that the trader could be preparing to reopen short positions. Coincidentally, Bitcoin open interest on Binance surged by $510 million shortly after the deposit, adding fuel to theories that the whale may be behind the move. While no direct link has been confirmed, analysts are split on whether this signals another round of aggressive shorting or simply capital repositioning. Some suggest the whale may be betting on further downside after Bitcoin’s failure to hold above $115K, while others believe the funds could be used for market-neutral strategies like hedging or arbitrage. Still, the timing has left traders uneasy. The market remains fragile, and the whale’s actions — whether strategic or coincidental — could influence short-term sentiment as Bitcoin fights to defend support around the $110K region. Related Reading: Matrixport-Linked Wallets Pull 4,000 Bitcoin From Binance Within 20 Hours – Details BTC Consolidates Below Pivotal Level Bitcoin continues to face selling pressure as it trades around $112,500, hovering just above its short-term support zone. The daily chart shows that BTC remains trapped between the 50-day moving average (near $115,000) and the 200-day moving average (around $108,000), signaling an indecisive market. The repeated rejections near $117,500 — a level that acted as both support and resistance throughout the year — confirm it as a key supply zone. The recent bounce attempts have been weak, with volume thinning and momentum indicators suggesting consolidation rather than a strong reversal. Bulls are struggling to reclaim control after the sharp sell-off that briefly sent BTC to $103K, and failure to hold above $110K could expose the next lower liquidity pockets around $107K and $105K. Related Reading: Binance Stablecoin Supply Surges To Record $42B: Liquidity Flows Back Into Markets On the other hand, holding above this range would stabilize market sentiment, allowing BTC to rebuild a base for a potential retest of the $115K–$118K area. For now, price action remains cautious — range-bound and reactive to broader risk sentiment. Traders are watching for a breakout above $115K or a decisive drop below $110K to confirm the next major directional move in the aftermath of last week’s volatility. Featured image from ChatGPT, chart from TradingView.com
Bitcoin trading volumes reached unprecedented levels amid market turmoil, while crypto hackers capitalized on discounted Ether.