Key Takeaways
- Major BTC holders open 40X leveraged shorts ahead of Trump’s Thursday announcement
- Speculative “insider” activity has persisted since Oct. 10, when Bitcoin plunged to $102,000 on Binance.
- Analysts say $107,000 remains a crucial support level to defend.
Bitcoin (BTC) whales are turning bearish once again – this time, just hours before US President Donald Trump’s latest White House address.
Whales Bet on Downside as BTC Tests $110K
Bitcoin’s momentum faltered heading into Thursday’s Wall Street open, as large holders aggressively flipped short on BTC/USD, risking deeper losses.
Data from TradingView showed BTC struggling to maintain the $110,000 level, trading within an increasingly tight range ahead of potential volatility catalysts.
At 3 p.m. Eastern Time, President Trump was expected to make a White House announcement – a timing that coincided with a spike in whale short activity.
Crypto veteran Kyle Chasse flagged one trader’s 40X leveraged BTC short, calling it “insane.”
“We see quite a big liquidation cluster just above $106K,”
Chasse added on X (formerly Twitter)
.
Charts shared by Chasse highlighted CoinGlass data showing dense liquidation zones that often act as short-term price magnets.
Whale Shorts Spike Across Exchanges
Further CoinGlass data revealed several large BTC wallets initiating new short positions on Thursday – many of them using high leverage.
These moves added to a growing pattern seen throughout October, as whales appeared to front-run Trump-related headlines. The trend began on Oct. 10, when BTC crashed from record highs to $102,000 on Binance.
On-chain analytics firm Glassnode observed defensive positioning among traders, noting that net premium flows showed heavy selling pressure between $109,000–$115,000.
“Recent moves higher are being used to hedge,” Glassnode reported, adding that traders are “positioning defensively into strength while the market consolidates.”
Traders Hold Firm: $107K Remains the Line in the Sand
Bearish sentiment has deepened among market watchers.
Trader Roman warned that BTC’s low trading volume, even at all-time highs, could quickly turn the market “ugly” if $107,000 fails to hold.
“So far we’ve held, but it’s not just a horizontal support – it’s a diagonal support from an uptrend that’s lasted nearly a year and a half,”
Roman noted.
Meanwhile, fellow analyst Daan Crypto Trades echoed concerns about thin volume but pointed to $111K as the key breakout level in the near term.
“If price can break and hold above that point, we can start looking for higher,”
he said
. “It’s good that $107K held despite weakness from stocks yesterday – but that remains a critical support moving forward.”
Despite the uncertainty, Bitcoin continues to trade near $111,144, as traders brace for volatility following Trump’s announcement – a familiar pattern in what has been an eventful month for the world’s largest cryptocurrency.
