Bitcoin Whale Closes $197M Short, But The Game Might Not Be Over

Bitcoin continues to hover around the $112,500 level, with volatility persisting across the market following last week’s historic ￰0￱ to on-chain data, short-term holders (STHs) remain under heavy pressure, showing clear signs of ￰1￱ STH realized price, a metric that tracks the average cost basis of recent buyers, indicates that many traders are still reacting emotionally to price ￰2￱ latest liquidation event seems to have deeply impacted market sentiment — even a small pullback yesterday was enough to trigger another wave of panic ￰3￱ Reading: Bitcoin Handles $14B OI Drop As Spot Volume Surged To $44B: Controlled Reset? Yet, while some investors capitulate, others are seizing the ￰4￱ 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 ￰5￱ move marks the end of one of the most successful short trades of the ￰6￱ Bitcoin stabilizes within a tight range, the market remains divided between fear-driven sellers and opportunistic players positioning for the next major ￰7￱ coming days could determine whether BTC finds stability or faces renewed selling pressure from nervous short-term ￰8￱ 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 ￰9￱ trader reportedly closed all BTC short positions on Hyperliquid, securing more than $197 million in profit across two wallets after last week’s ￰10￱ 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 ￰11￱ no direct link has been confirmed, analysts are split on whether this signals another round of aggressive shorting or simply capital ￰12￱ 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 ￰13￱ 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 ￰14￱ 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 ￰15￱ 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 ￰16￱ repeated rejections near $117,500 — a level that acted as both support and resistance throughout the year — confirm it as a key supply ￰17￱ recent bounce attempts have been weak, with volume thinning and momentum indicators suggesting consolidation rather than a strong ￰18￱ 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 ￰19￱ now, price action remains cautious — range-bound and reactive to broader risk ￰20￱ 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 ￰21￱ image from ChatGPT, chart from ￰22￱