Key points:
Bitcoin has abandoned its bullish rebound as sellers maintain strong control.
The notorious Bitcoin whale who shorted BTC last week is continuing to increase its bearish position on BTC.
$107,000 is gradually appearing as a potential near-term objective.
Bitcoin (BTC) dropped to multi-week lows after the Wall Street market opened on Tuesday, with traders suggesting a cautious approach.
Bitcoin whale maintains short position with $500 million
Data from Cointelegraph Markets Pro and TradingView indicated that BTC/USD decreased over 3% to revisit $110,000.
With increased volatility, Bitcoin tested the resolve of hodlers for the second time in just a few days amid ongoing suspicions of market manipulation.
“The drop from the US market open resulted in another touch of $110K, which is still observing passive buying and some absorption of market selling,” trader Skew noted in his latest update on X.
“In perpetual contracts, we are seeing shorts from earlier in the day taking profits.”
Market attention remained on the activities of a crypto whale who shorted the market just ahead of last Friday’s $20 billion liquidation event.
As of Tuesday, their BTC short, using 10x leverage, was valued at nearly half a billion dollars.
The notorious Hyperliquid whale is back.
Last time
he shorted $700M BTC + $350M ETH, earning nearly $200M during the crash.
This time
he’s opened a $494M Bitcoin short at 10x leverage.
Entry: $115,288
Current price: $112,600
Unrealized profit: +$11.8M and rising.
His… pic.twitter.com/QxSThYpM8f
— Justin Wu (@hackapreneur) October 14, 2025
Other risk assets faced challenges that day, with US stocks opening lower and gold retreating from its recent all-time high of nearly $4,180 per ounce.
Continuing, trader Roman advised followers on X to avoid overexposure as the market headed toward $108,000.
“Currently, we have a potential double bottom reversal with volume decreasing at major support,” he remarked alongside a short-term price chart.
“My only concern is that part of me believes we could fill the wick from our liquidation cascade. I’d recommend a low-risk approach here.”
$107,000 next on the horizon?
Considering proprietary data, Keith Alan, co-founder of trading resource Material Indicators, pointed to lower levels.
Related: $120K or end of bull market? 5 things to know in Bitcoin this week
“$BTC is heading down for a fourth test of support at $109k, but I’m not sure it will hold,” an X post conceded.
“Technical support appears stronger where the 200-Day SMA aligns with the Q4/2025 Timescape Level at $107,100. Should bulls lose that level, the yearly open could come into play.”
Bitcoin’s yearly open sits just below $93,500 and has remained a significant level since.
Previously, Cointelegraph reported on several key support trendlines in effect, including moving averages and the aggregate cost basis for short-term holders.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
