Bitcoin continues to hover around the $112,500 levels, continuing to persist in the market following last week’s historic crash. According to on-chain data, short-term holders (STHS) remain under great pressure, showing clear signs of panic. The price of STH made, a metric that tracks the average cost of recent buyers, shows that many sellers are still responding spiritually to price fluctuations. The recent Liquidation event seems to have a profound market outlook – even a small pubback yesterday was enough to cause another wave of panic selling.
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However, while some investors look for other investors, others take advantage. The well-known Bitcoin Og Whale, who received widespread attention for shorting BTC and eth before the crash, has reportedly closed his position, locking in more than $197 million in profit. This move marks the end of one of the most successful sales of the year.
As bitcoin tightens within a tight range, the market remains divided between fear-driven traders and players who have the potential to become the next big thing. The coming days may determine whether BTC finds strength or faces renewed selling pressure from nervous short-term holders.
Bitcoin whale moves the cause of speculation
LolonChain followed a series of high figures from a trader known as BitcoINOG (1011Short) – one of the most watched tracks in the market right now. The trader has reportedly closed all short BTC positions in hyperliquid, protecting more than $197 million in funds across two wallets after last week’s crash.
Just a moment ago, the same fund transferred $89 million USDC to Binance, immediately sparking speculation that the trader might be preparing to reopen short positions. By default, Bitcoin Open binance interest posted by $ 510 million just after the deposit, adding fuel to the sectors that the whale can be after leaving.
Although no direct link has been confirmed, analysts are divided as to whether this signals another round of aggressive shorting or simply scrutinizing the currency. Some suggest that the whale may be betting on continuation after Bitcoin’s failure to hold above $115k, while others believe that the money can be used for lower market strategies such as clipping or direction.
However, time has left sellers beasy. The market remains fragile, and the whale’s actions – whether strategic or accidental – can influence short-term sentiment as bitcoin fights to defend support around the $110k region.
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BTC is consolidating below a new high
Bitcoin continues to face selling pressure as it trades around $112,500, moving above its temporary support area. The Daily chart shows that BTC remains tied between the 50-day moving average (near $115,000) and the 200-day moving average (around $108,000), signaling a bearish market. Repeated rejection near $117,500 – a level that acts as support and resistance throughout the year – confirmed it as a submission point.
Bounce’s recent efforts have been weak, with declining volume and short-term indicators suggesting a consolidation rather than a strong pullback. Bulls are fighting for control after a sharp sell short sent BTC to $103k, and the failure to hold above the lower pockets around $107K and $105k.
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On the other hand, holding above this range will strengthen market sentiment, allowing BTC to rebuild the base of a potential $115K-$118k area. At the moment, price action remains cautious – range bound and works to dominate the risk. Traders are looking for a break above $115k or a decisive drop below $110k to confirm the next directional move after last week’s volatility.
Featured image from chatgpt, chart from artIngview.com
