The cryptocurrency market has rebounded after Friday’s market crash that sent prices 0 (BTC) plunged to a low of $102,000 on Binance before recovering, sparking concerns of a drop below $100,000. However, the flagship cryptocurrency recovered and stabilized around $112,000, and is looking to reclaim the $115,000 1 market rebound occurred after US and Chinese officials moved to cool tariff fears, and the odds of a 100% tariff dropped 2 Who Shorted Bitcoin (BTC) Opens More Positions A crypto trader who made $192 million after a suspiciously timed bet just before the market crash has opened up more bearish 3 whale trader has opened a $163 million leveraged perpetual contract to short 4 position is currently valued at $3.5 million in profit, and will be liquidated if BTC crosses $125,500.
The trader caught the community’s attention after opening a short position just minutes before President Trump’s tariff announcement, which sent the markets 5 a result, the trader in question pocketed $192 million in 6 community believes the trader is an “insider whale” because of the timing of the 7 members believe the trader was the reason for the leverage flush on Friday. “The crazy part is that he shorted another nine figures worth of BTC and ETH minutes before the cascade 8 this was just publicly on Hyperliquid, imagine what he did on CEXs or elsewhere. I’m pretty sure this guy played a huge role in what happened today.” Investigation Ties Whale To Former BitForex CEO An on-chain investigation has tied the Hyperliquid whale controlling over 100,000 BTC to former BitForex CEO Garrett 9 is a defunct exchange that was embroiled in a fraud scandal.
On-chain investigator Eye noted that the Bitcoin whale’s main wallet, ereignis. eth, was connected with another ENS name, garrettjin. eth, which directly led to Jin’s verified X 10 investigator noted in a post on X, “The ENS name 11 (“event” in German) confirms his link to this wallet, identifying him as the actor behind the large-scale operations on Hyperliquid/Hyperunit.” The wallet activity also matched Jin’s business dealings, including transfers to staking contracts and addresses funded by exchanges. However, not everyone is 12 analyst Quinten François doubted claims linking the Hyperliquid whale to the former BitForex CEO, arguing the evidence was too convenient.
“Why would you have 13 name leading to your X handle in a wallet that directly connects to market manipulation wallets and wallets for other crimes? Sounds way too simple to be true.” 14 CEO Calls For Probe Into Exchanges 15 CEO Kris Marszalek has called for an investigation into crypto exchanges that suffered the largest losses after a record $20 billion in crypto liquidations in 24 hours. Marszałek urged regulators to conduct a “thorough review of fairness and practices” and investigate whether trading platforms had slowed down services, mispriced assets, or failed to maintain anti-manipulation and compliance controls. “Regulators should look into the exchanges that had the most liquidations in the last 24 16 of them slowing down to a halt, effectively not allowing people to trade?
Were all trades priced correctly and in line with indexes?” According to data from CoinGlass, Hyperliquid led all exchanges in liquidations with $10.31 billion wiped 17 registered $4.65 billion in liquidations, followed by Binance with $2.41 billion. OKX, HTX, and Gate also registered smaller but notable 18 Digital Secures Investment To Transform Former Bitcoin Mining Site To AI Data Center Galaxy Digital has secured a $460 million private investment to accelerate the transformation of its former Bitcoin mining site into an AI data 19 investment involves the purchase of 12.77 million Class A shares at $36 per share, with the proceeds earmarked for general corporate use and the expansion of the company’s Helios campus, expected to deliver 133 megawatts of IT capacity by 20 Digital CEO Mike Novogratz stated, “Having one of the world’s largest and most sophisticated institutional investors make such a significant investment in our company will support our strategic vision and our ability to build leading businesses across digital assets and data centers.” Bitcoin (BTC) Price Analysis Bitcoin (BTC) is struggling to regain momentum and reclaim $115,000, with the price down nearly 1% during the ongoing session, trading around $114,173.
The flagship cryptocurrency plunged to a low of $102,000 on Friday before settling at $112,980. Selling pressure persisted on Saturday as the price fell 1.96% to $110,768. BTC made a strong recovery on Sunday, rising nearly 2% to reclaim $115,000 and settle at $115,067 before dropping during the ongoing 21 weekend collapse was triggered by new tariffs imposed on Chinese goods in response to Beijing's attempts to impose restrictions on the export of rare earth 22 will look to decisively reclaim $116,000 as positive sentiment returns after the weekend crash. A tariff announcement by President Donald Trump was all it took to spark chaos in the market.
However, the recovery has seen BTC recoup almost 50% of its losses 23 Kobeissi Letter stated, “If you include the after-hours drop-in futures, the S&P 500 is up +120 points at the 24 has effectively erased 50% of the decline seen late last week. Now, we await more guidance from the Trump Admin.” Sentiment turned bullish on Sunday as markets 25 a result, BTC recovered, rising nearly 4% to briefly cross $116,000 before volatility and selling pressure pulled the price 26 prices have turned bearish again, analysts believe another major crash is unlikely. “You never know what the W close and next week will bring, of course, especially since legacy barely had time to respond to Trump.
However, I am not overly 27 was poised for a correction anyway, but it all got amplified, and we had a system breakdown.” BTC traders face a dilemma this week, wondering if the worst is over or whether there is more downside to 28 trader believes there is more downside, stating in a post on X, “Last week’s flash crash perfectly bounced off our diagonal uptrend support from August 2024 at 40k. I’m looking for at least a retest of 108, but as many of you know, HTF has bearish 29 check 1D when we get an intra support retest at 107-108.” 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 30 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.
Story Tags
Latest news and analysis from Bitzo
