Important points:
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Bitcoin falls to around $114,000 as whales predict further Bitcoin price declines next.
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Prices are putting pressure on short-term holders, with their cost basis just below $114,000.
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The main moving averages are considered as support bases.
Bitcoin (BTC) struggled to contain a rebound in Wall Street trading on Monday as a controversial whale joined in bets that BTC prices would fall.
Bitcoin whale doubles as BTC price falls
Cointelegraph Markets Pro and TradingView data showed BTC/USD retreating from its daily high of $116,000.
The pair quickly closed the upside “gap” in the CME Group Bitcoin futures market and then fell below the daily opening price.
$BTC The CME gap has been closed ✅ pic.twitter.com/OWy2aa1bb6
— Daan Crypto Trades (@DaanCrypto) October 13, 2025
Markets were unfazed by Washington’s word on trade moves between the United States and China that could avoid significant tariff hikes.
Treasury Secretary Scott Bessent announced “working-level” talks with China later this week.
“We believe this is a tactical escalation (by Beijing) to shape pre-summit negotiations and not a strategic decoupling,” Morgan Stanley analysts said in a note the same day, cited by Reuters and other sources.
While traders waited for clues, all eyes were on an unknown Bitcoin whale that took advantage of Friday’s $20 billion liquidation event by selling short just before the China news broke.
On Monday, the company added a short position, worth 3,500 BTC at the time of writing, with a liquidation price of approximately $120,000.
“As I said yesterday, he may want to lose money or get liquidated so people don’t think he has inside information,” crypto analyst and entrepreneur Ted Pillows responded in a post on X.
Commentator Max Kaiser argued that “banks are loaning (i.e. printing) billions of dollars to fund naked Bitcoin shorts,” suggesting that fraud was involved.
“That doesn’t work,” he added.
Bitcoin speculators go back and forth between profits and losses
Therefore, BTC price action has circled the major support line expressed in terms of total cost basis for short-term holders (STH).
Related: $120,000 or the end of the bull market? 5 things to know about Bitcoin this week
As reported by Cointelegraph, STH wallets are tied to entities that are held for up to six months, acting as a safety net during bull market drawdowns.
As of Sunday, the STH cost basis is $113,861, according to data from on-chain analytics platform Glassnode.
Subsequently, on-chain analytics platform CryptoQuant flagged three trendlines as the next ones to watch: 30-day, 90-day, and 200-day simple moving averages (SMAs).
In one of the day’s “Quick Take” blog posts, contributor Arab Chain wrote:
“This structure suggests that the long-term structural uptrend remains intact (as price is still above the 200DMA), but short-to-medium term tactical momentum has weakened and price is now below the 30DMA and 90DMA, which have converged into a dynamic resistance zone.”
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 decisions.