Important points:
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Bitcoin whales turn bearish on Bitcoin price movement hours before President Trump makes new announcement from the White House.
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Since October 10, when Bitcoin hit $102,000 on Binance, bets on the “insider” market have become more prominent.
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Traders currently say $107,000 is the next line.
Bitcoin (BTC) risked fresh losses in Wall Street trading on Thursday as whales shorted BTC.
Bitcoin whale piles on shorts again
Data from Cointelegraph Markets Pro and TradingView showed that BTC price action is tapping but failing to sustain above $110,000.
BTC/USD was trading in an increasingly narrow range and there was little reason for optimism in the face of some classic volatility factors.
US President Donald Trump was scheduled to make an announcement from the White House at 3pm ET, and large numbers of Bitcoin traders were betting on bad news.
Bitcoin OG Kyle Chasse called one whale’s 40x leveraged BTC short sale “insane.”
Insane! ! !
This whale deposited $3 million $USDC I’ve recently become addicted to Hyper Liquid.
short $BTC With 40x leverage!
President Trump will also make an announcement from the White House today.
Coincidence? ? ? 🤔 pic.twitter.com/9n6n0LKtf7
— Kyle Chasse / DD🐸 (@kyle_chasse) October 23, 2025
In a further post about X, he added, “We’re seeing a fairly large cluster of liquidations of just over $106,000.”
The attached chart shows trading order book liquidation levels from monitoring resource CoinGlass, which often act as short-term price magnets.
Meanwhile, additional data from Coinglass showed a variety of new whale shorts opened that day, some with significant leverage.
As reported by Cointelegraph, suspicions about the whale drama continued throughout October after certain groups brought news headlines and President Trump’s comments to the forefront. This phenomenon originally surfaced on October 10th when BTC/USDT fell from an all-time high to a low of $102,000 on Binance.
Focusing on the overall behavior of traders, on-chain analytics platform Glassnode revealed a “defensive” positioning.
“Net premium flows reveal concentrated selling in the $109,000 to $115,000 range, indicating recent price gains are being used as a hedge,” the newspaper reported on the Bitcoin options market.
“This suggests that traders are taking defensive positions to stay strong as the market consolidates.”
Bearish prediction for BTC price holds
Already bearish market participants reinforced existing warnings.
Related: Will Bitcoin price increase six times in 2026? M2 supply boom prompts comparisons to COVID-19
Trader Roman said he was concerned about the lack of trading volume even at all-time highs, and said the situation would “quickly deteriorate” if Bitcoin fell below $107,000.
“So far we have held, but we wanted to show that it is not just horizontal support, but diagonal support for an uptrend that has been up for almost a year and a half,” he told X Followers on the weekly chart.
Fellow trader Daan Crypto Trades agreed that volume in the current range is “pretty thin.”
“The $111,000 level is important in the near term. If the price can break through and sustain that level, we can start looking higher,” he said that day.
“It’s good that we were able to hold the $107,000 level yesterday, given the weakness in the stock market, but it’s an important support that we need to maintain going forward.”
This article does not contain investment advice or recommendations. All investment and trading moves involve risk and readers should conduct their own research when making decisions.