The Bitcoin OG Is Back – Opens Massive Short After $30M USDC Deposit
Bitcoin is staging a modest rebound after a number of days of intense promoting stress and worry throughout the market. The main cryptocurrency has struggled to determine steady help, with risky swings making it troublesome for merchants to navigate. Despite the uncertainty, some market contributors proceed to maneuver strategically — and probably the most well-known whales has simply made an enormous return.
The dealer often known as BitcoinOG (1011short) — who gained fame for incomes over $197 million throughout final week’s flash crash — is again in motion. On-chain knowledge exhibits that he has deposited $30 million in USDC to Hyperliquid and opened a 10x quick place on 700 BTC, value roughly $75.5 million.
This transfer has drawn the market’s consideration, reigniting hypothesis about whether or not the whale anticipates one other leg down for Bitcoin. While BTC is making an attempt to recuperate above the $110,000 mark, the presence of such a big quick place highlights lingering bearish sentiment and an absence of conviction amongst traders. For now, bulls are combating to stabilize value momentum, however with whales like 1011short again within the recreation, volatility is probably going removed from over — and the market could also be in for an additional sharp transfer quickly.
Whale’s Short in Profit as Market Tension Rises
According to Lookonchain, the whale often known as BitcoinOG (1011short) at present holds an unrealized revenue of about $880,000, or roughly 11%, on his newest $75.5 million quick place opened on Hyperliquid. The commerce, positioned throughout Bitcoin’s rebound part, has shortly gained traction as BTC struggles to maintain momentum above the $111,000 degree. This transfer has sparked unease amongst buyers and merchants alike, lots of whom view it as a possible warning signal that bigger gamers could also be positioning for renewed draw back stress.
Still, analysts warn that this may not inform the complete story. While the 1011short tackle has earned a popularity for precision — notably pocketing $197 million in the course of the October 10 flash crash — the transparency of on-chain knowledge has limits. It’s unclear what number of positions this whale at present holds throughout different exchanges or what the precise technique behind his trades could also be. As such, studying his strikes as a easy bearish wager could possibly be an oversimplification.
The subsequent few days will probably be crucial for Bitcoin’s trajectory. If the whale decides to scale his quick additional, it may intensify promoting stress and drag BTC towards key help ranges. Conversely, if he closes out the place or pivots to longs, it’d recommend a short-term market backside. Either method, the setup factors to heightened volatility forward, with merchants bracing for sharp value actions because the market digests this high-profile exercise.
Bitcoin Holds Weekly Support, however Resistance Looms
Bitcoin is displaying early indicators of stabilization on the weekly chart, recovering from its October 10 flash crash low close to $103,000 to commerce round $111,200. The candle construction means that consumers are defending the 50-week shifting common (blue line), which has acted as a dependable mid-cycle help all through the present bull part.
However, the broader construction nonetheless exhibits Bitcoin consolidating beneath the $117,500 resistance — a degree that has repeatedly capped rallies since mid-2025. Until BTC breaks above this zone with sturdy quantity, the market stays trapped in a sideways vary, with merchants positioning cautiously amid high volatility and unsure macro situations.
Momentum indicators level to neutral-to-bearish sentiment, reflecting hesitation amongst bulls after weeks of heavy liquidations. Yet, the presence of upper lows on the weekly chart continues to help the long-term bullish construction, so long as BTC holds above $106,000–$107,000.
If value manages to reclaim and shut above $117,500, the trail may open towards $125,000–$130,000, aligning with liquidity pockets from earlier tops. Conversely, a weekly shut beneath $106,000 would shift the outlook bearish, suggesting deeper corrections forward.
Featured picture from ChatGPT, chart from TradingView.com