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The Bitcoin worth slid 3% previously 24 hours to commerce at $111,910 as of three:51 a.m. EST on buying and selling quantity that plunged 23% to $73.3 billion.
This comes as a whale investor, who earned near $200 million by shorting Bitcoin and Ethereum simply earlier than Donald Trump’s tariff announcement in opposition to China on October 10, doubled down on one other brief in opposition to BTC with 10x leverage
Knowledge from Hypurrscan exhibits {that a} the whale dealer and doable ”Trump insider’ with the handle “0xb317” on the decentralized derivatives alternate Hyperliquid deposited $40 million in USDC.
Shortly after that, the whale constructed a 10X brief place in Bitcoin valued at round $340 million.
Based mostly on the account’s entry worth of $116,009, it has already amassed greater than $700,000 in unrealized income.
BREAKING: TRUMP INSIDER WHALE IS NOW SHORT $340M $BTC
The HyperUnit Bear Whale who shorted $700M of $BTC and $350M of $ETH proper earlier than Friday’s market crash (making ~$200M whole) simply deposited $40M USDC to HL and shorted one other $127M $BTC.
He’s now brief $300M $BTC and has… pic.twitter.com/b2rpzmkofZ
— Arkham (@arkham) October 13, 2025
After some analysts instructed that the account belongs to former BitForex CEO Garret Jin, he confirmed that he’s linked to it, however stated that the account is his “shoppers’ fund,” not his private account.
Will the whale’s prediction show proper once more or can the value maintain assist to get better?
Bitcoin Worth Indicators Sign A Continued Bearish Transfer
After a sustained drop from the $118,000 resistance to the $108,600 assist in September, the BTC worth recovered nicely by the top of the month.
This allowed the Bitcoin worth to the touch the all-time excessive (ATH) at $126,080 on October 6. Nonetheless, BTC fashioned a rounding high sample, which is usually a bearish sample. This pushed the value of BTC to fall again to the assist zone round $110,337 (1.618 Fib degree).
Regardless of staging a restoration over this assist, BTC was rejected across the $115,690 space, ensuing within the present downtrend.
Bitcoin has additionally constantly traded under each the 50-day and 200-day Easy Transferring Averages (SMAs), indicating that the main cryptocurrency by market capitalization has been in a sustained bearish pattern.
In the meantime, the Relative Power Index (RSI) is retracing again in direction of the 30-oversold degree, at the moment at 37 from the 50-midline vary, which may assist the general bearish pattern.
The Pattern-Based mostly Fibonacci retracement on the BTC/USD 4-hour chart exhibits a powerful rejection close to the 0.382–0.5 ranges (round $121K–$122K), confirming bearish momentum.
BTC Approaches $110K Help Zone
Based mostly on the BTC/USD chart evaluation, the BTC worth is at the moment on a sustained bearish pattern, which may see the asset plunge much more.
Help lies close to the 1.618 extension ($110K). RSI at 37 signifies weakening momentum and potential oversold circumstances. Until the value of Bitcoin reclaims $118,000–$120,000, additional draw back towards $110K and even the two.618 extension ($100,600) stays doubtless within the brief time period.
This comes as Ali Martinez, a preferred crypto analyst on X, says that the value of BTC may revisit the $100,000 degree.
If the bull finds assist because of the oversold RSI, the Bitcoin worth may rally in direction of the 1 Fib degree at $116,338 and even larger on the 0.786 Fib degree at $118,416.
For the bullish case, BitMEX co-founder Arthur Hayes acknowledged on the X platform that bankers have obtained a touch from Jamie Dimon (CEO of JPMorgan Chase) that it’s time to create extra credit score for the American trade.
Banksters bought the trace led by the Grand Grasp Jamie Dimon, time to create credit score and lend to US trade. Extra {dollars}, extra $BTC quantity go up! QE 4 Poor Individuals in motion. pic.twitter.com/dBI4fuiDoT
— Arthur Hayes (@CryptoHayes) October 14, 2025
Quantitative easing focusing on the “poor” is underway, and the elevated liquidity of the US greenback may drive up the value of BTC, he stated.
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