Bitcoin Price Analysis: BTC Slips Below $109,000 As Whale Opens Another Short Position
Bitcoin (BTC) traded in the red for the third consecutive day, falling to a low of $108,500 as sentiment turned bearish after a brief rise to $112,000. The flagship cryptocurrency is down 0.55% during the ongoing session, trading around $110,189.
Meanwhile, the Bitcoin whale dubbed “Trump’s insider” opened another $120 million short position, sparking fears of another impending market crash.
Sharplink Gaming CEO Stunned By Bitcoin, Ether ETFs
Sharplink Gaming CEO Joseph Chalom has said the success of BlackRock’s Bitcoin and Ethereum ETFs has left him stunned. Chalom, formerly BlackRock’s digital asset strategy chief, stated,
“What’s exceeded expectations is that most of that capital is buy and hold. These are not speculators. These are not short-term traders.”
According to Chalom, the success of its crypto ETFs was a “mission accomplished” moment for BlackRock, adding,
“These are people who believe in the thesis that you should have some Bitcoin and some ETH in a diversified investment portfolio. It means that some of the largest pension funds, sovereign wealth funds, and wealth managers believe that this should be an allocation in people’s portfolios.”
Dormant Bitcoin Whale Transfers 2,000 BTC
A long-dormant Bitcoin whale has resurfaced to transfer 2,000 BTC, worth $222 million at current prices, into new wallets in what appears to be a carefully coordinated move. Blockchain data from Arkham Intelligence revealed that the coins were distributed across 51 new addresses. 50 wallet addresses received 37.576 BTC, while one wallet received 121.18 BTC. The transfers are the first significant movement of the funds in years, and originate from an address tied to Bitcoin’s early years. The structure distribution of the BTC indicates a deliberate, coordinated move rather than a spontaneous transaction. Analysts believe the whale is reorganizing or securing their holdings. However, the timing of the transfers has raised concerns as BTC struggles to regain momentum after Friday’s crash.
Long-dormant whales from the flagship cryptocurrency’s early days generally awaken for profit-taking. BTC’s value has risen sharply since its early days, and such movements could mean the whale is preparing to offload a part of their holdings.
“Trump’s Insider” Whale Opens $120M Short Position
A trader dubbed “Trump’s insider” in the Bitcoin community has opened a new $120 million short position at $111,386 ahead of an expected announcement by President Trump on Tuesday. The new short position has sparked concerns about another market crash. Market forums and social media lit up with warnings about the whale, who maintains a 100% win rate, and the new short position. Investors are worried the new position could trigger another market crash similar to Friday.
The trader attracted attention by opening over $1.1 billion in short positions against BTC and ETH minutes before Trump announced 100% tariffs on Chinese imports. The position allowed the trader to pocket between $160 million $200 million in profits as Bitcoin crashed. Blockchain analytics firm Lookonchain identified the wallet as one belonging to a Bitcoin OG who held $86,000 BTC since 2011.
Bitcoin (BTC) Price Analysis
Bitcoin (BTC) is witnessing a jump in selling pressure, with the price down nearly 2% during the ongoing session. The flagship cryptocurrency briefly crossed $112,000 but lost momentum after reaching $112,021, falling to a low of $108,500, despite starting the day in positive territory.
BTC had maintained its position above $110,000 thanks to spot demand. However, an uptick in selling pressure has seen buyers overwhelmed, despite rapid accumulation from short-term holders. Older Bitcoin whales have started making moves as well. According to on-chain data, around 7,343 BTC has been moved on-chain, indicating some long-term holders may be preparing to take profits or repositioning their holdings. Crypto analyst Maartunn highlighted that Binance’s net-taker volume indicated selling pressure, while the short-term holder Spent Output Profit Ratio (STH-SOPR), an indicator that measures if recent spenders are selling at a profit or a loss, remains at 1. This suggests that STHs are still taking profits. It is this dynamic that has prevented BTC’s recovery from gaining momentum.
Data from CryptoQuant shows traders are steadily accumulating, but faced with persistent volatility. The 30-day Netflow SMA showed outflows of 5,620 BTC, indicating long-term investor confidence and shrinking exchange supply. However, the opposite is happening on the derivatives front, where 364,000 BTC was mobilized within the internal wallets of derivatives exchanges between Thursday and Wednesday, indicating they are preparing for significant leveraged positions.
BTC traded in bullish territory last week, and began the previous week with a 1.41% increase to $122,318. The price registered a marginal rise on Saturday before reaching an intraday high of $125,750 on Sunday. BTC ultimately ended the weekend at $123,520, up 0.87%. Buyers retained control on Monday as the price rose 0.97% and settled at $124,720, but not before reaching an intraday high of $126.296. BTC lost momentum on Tuesday, falling almost 3% to $121,393. The price recovered on Wednesday, rising nearly 2% and settling at $123,343. Selling pressure returned on Thursday as BTC fell 1.32% to a low of $119,713 before settling at $121,714.
Source: TradingView
BTC and the crypto market crashed on Friday after President Trump announced 100% tariffs on Chinese goods and new export controls for software. The announcement was made in retaliation for China's imposition of restrictions on rare earth mineral exports. As a result, BTC plunged to $102,000 on Binance before recovering and settling at $112,980. Selling pressure persisted on Saturday as the price fell almost 2% to $110,768. Despite the overwhelming selling pressure, markets recovered on Sunday. As a result, BTC rose nearly 4% to reclaim $115,000 and settle at $115,067. The price faced selling pressure and volatility on Monday, ultimately registering a marginal increase and settling at $115,274. Selling pressure returned on Tuesday as BTC fell to an intraday low of $109,945. It recovered from this level to reclaim $113,000 and settle at $113,068, ultimately dropping 1.91%. Sellers retained control on Wednesday as the price fell 2% to $110,804. Selling pressure has intensified during the ongoing session, with BTC down over 2%, trading around $108,245.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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