Bitcoin continues to struggle under bearish pressure following last Friday’s sharp market drop, with traders still reeling from one of the most volatile weeks in 0 BTC battles to hold above the $105K–$106K zone, gold has surged to new all-time highs, signaling growing uncertainty in global 1 divergence between traditional safe havens and risk assets has left investors questioning what the macro signal truly implies — whether it’s a sign of deeper economic fragility or a temporary rotation of 2 this cautious environment, an intriguing move by a well-known whale has caught market 3 trader — famous for shorting both BTC and ETH during last week’s crash on Hyperliquid — is now flipping long, opening massive leveraged positions on the same assets he profited from 4 whale’s actions have fueled speculation about a potential short-term 5 analysts suggest this could mark the beginning of market maker accumulation , especially as funding rates reset and liquidity normalizes.
Still, with Bitcoin showing technical weakness and macro headwinds intensifying, traders remain divided: is this whale betting on an early reversal, or simply preparing for another volatility-driven shakeout before the next major move? Whale Doubles Down Despite Unrealized Loss According to Lookonchain insights , the well-known whale (0xc2a3) is now facing a dramatic reversal of 6 flipping his strategy and opening massive long positions on both Bitcoin and Ethereum, the trader has seen his previous $5.5 million profit completely erased, now sitting on a net loss of $4.69 7 this, on-chain data shows he’s continuing to add to his BTC longs, signaling a high-conviction — or high-risk — bet on an imminent market 8 present, the whale’s positions amount to 1,260 BTC (≈$132.5 million) and 19,894 ETH (≈$74.4 million).
These are some of the largest open positions on Hyperliquid, drawing intense scrutiny from traders and analysts 9 speculate that his aggressive accumulation indicates insider confidence or a strategic long-term view, while others warn it may simply reflect overleveraged optimism amid deteriorating market structure. Meanwhile, Bitcoin’s price continues to drift toward range lows, hovering just above $105K, where short-term holder realized prices and major moving averages 10 sustained selling pressure across exchanges and persistent bearish sentiment suggest that the market has yet to find a solid floor. Still, the whale’s behavior has introduced renewed debate about whether smart money is positioning early ahead of a recovery or misjudging a still-fragile 11 his conviction proves right and BTC stabilizes, this could mark a key accumulation phase before the next leg 12 if not, the losses could deepen further — reaffirming just how volatile and unpredictable Bitcoin’s macro landscape 13 Faces Weekly Breakdown As Volume Surges Bitcoin’s weekly chart reveals a decisive shift in momentum, with price closing near $105,800 after a steep -8% decline for the 14 correction has erased multiple weeks of gains, pushing BTC dangerously close to the 50-week moving average (MA50), currently around $101,700 — a level that has historically acted as a strong support during mid-cycle 15 stands out most in this chart is the sharp increase in trading volume, the highest since late 2023, confirming that the latest sell-off has been driven by significant market 16 large red volume bar indicates broad capitulation among short-term holders, aligning with on-chain data showing increased realized losses and elevated selling pressure across 17 Bitcoin manages to hold above the $103K–$106K range and defend the MA50, the structure could remain within a broader bullish continuation pattern.
However, a confirmed weekly close below this support would likely trigger a deeper retracement toward $100K or even $97K, where the 100-week MA currently 18 image from ChatGPT, chart from 19
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