Bitcoin Updates: Major Investors Place $20 Million Wagers on Bitcoin's Short-Term Recovery
- Bitcoin faces critical support at $108,000 as whale accounts open $20M+ leveraged longs, signaling near-term rebound bets. - Technical analysis shows bearish momentum below $110,000 but potential for $114,000+ rally if key support holds. - Aggressive on-chain accumulation by top traders contrasts with FOMC-driven volatility, highlighting macroeconomic uncertainty. - Institutional alignment with current bullish positioning could determine November's outcome amid high-risk market dynamics.
Bitcoin is at a crucial juncture as leading traders anticipate a short-term bounce, even after its recent slide below $110,000. Insights from Hyperliquid’s on-chain and derivatives data, reviewed by Lookonchain, show that large investors are taking bold long positions, reflecting strong confidence in a possible price recovery. For instance, trader 0x9553 entered a 40x leveraged trade on 179.59
Technical signals offer a more detailed perspective. Bitcoin’s price is hovering near the $108,000 support zone, with the daily RSI under 50 and a bearish MACD crossover pointing to fading momentum. If the price falls below the $107,200–$106,600 range, it could trigger a sharper decline toward $104,000, an area where buyers have previously stepped in. On the other hand, if $108,000 holds and $110,500 is retested,
The market’s direction is also influenced by broader economic developments. Although leveraged longs and whale buying have helped steady short-term selling, volatility remains elevated. Trader 0xd260, who boasts an 83.72% success rate and more than $2.6 million in gains, recently opened a 40x long on 62 BTC (about $6.88 million), further supporting the view of strategic buying during downturns. Experts warn that a deeper drop could shake short-term optimism, but a quick recovery might reignite bullish momentum if macroeconomic conditions improve and FOMC-related worries ease, as noted by Coinpedia.
The outcome for November will likely hinge on whether institutional investors and macroeconomic factors align with current on-chain trends. While the road to recovery is uncertain and risky, the assertive moves by major traders suggest this decline could be a setup for a rebound rather than a lasting reversal.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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