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Bitcoin Gains 0.42% Amid Whale Short Positions and Tether Purchases

Bitcoin Gains 0.42% Amid Whale Short Positions and Tether Purchases

Bitget-RWA2025/11/07 04:56
By:Bitget-RWA

- Bitcoin rose 0.42% in 24 hours to $101,748.87, but fell 7.93% weekly amid whale shorts and macroeconomic fears. - A top bearish whale secured $12.99M profit from consecutive Bitcoin shorts, holding $124M in contracts at $111,499 avg entry. - Tether boosted Bitcoin holdings by 961 BTC ($97.34M), now holding 87,290 BTC ($8.84B) as part of its long-term bullish strategy. - Market uncertainty deepened with $2B Bitcoin ETF outflows and a 14% put-call ratio, prompting RSI-based backtesting for potential revers

On November 7, 2025,

saw a slight increase of 0.42% over the last day, reaching a trading price of $101,748.87. Over the previous seven days, its value dropped by 7.93%, and it has fallen 7.14% over the past month. Despite these declines, Bitcoin has risen 8.76% year-over-year. Trading activity was largely driven by significant whale transactions, a prevalence of short positions, and institutional buying.

A well-known on-chain whale, recognized for a consistently bearish approach, has initiated a fourth straight short position on Bitcoin. On-chain analyst Ai Auntie reports that this whale secured $12.99 million in profits during the week. Between October 24 and 28, the whale repeatedly increased its short exposure. Currently, it holds 1,231.98 BTC in short contracts, with an average entry price of $111,499.3 and a total value of $124 million. This whale’s ongoing bearish activity has drawn considerable attention from on-chain analysts.

At the same time,

, the company behind the stablecoin, has boosted its Bitcoin reserves by 961 BTC, worth $97.34 million. Tether now holds a total of 87,290 BTC, valued at $8.84 billion. This purchase continues Tether’s pattern of strategic Bitcoin acquisitions, highlighting its ongoing confidence in Bitcoin’s long-term potential.

Market sentiment has been unsettled, with outflows from Bitcoin ETFs accelerating and broader economic concerns mounting. In the past two weeks, Bitcoin ETFs have seen net outflows totaling $2 billion, adding further downward pressure on the price. Disappointing earnings and macroeconomic worries have increased fears that Bitcoin could dip below the key $100,000 level. The annualized premium for BTC 2-month futures has dropped under 5%, indicating waning bullish sentiment.

When Bitcoin’s price slipped to $100,300 on Thursday, there was no corresponding decline in futures open interest, suggesting that bullish traders increased their margin to avoid being liquidated. This pattern shows a cautious optimism in the $100,000 support, even as a strongly negative options delta skew has pushed the put-call ratio to 14%, reflecting heightened market anxiety.

Backtest Hypothesis

Given the current bearish outlook and the technical setup of Bitcoin’s price action, a backtesting method is being explored that uses the Relative Strength Index (RSI) as the main signal. This strategy aims to spot oversold conditions that could indicate a reversal.

The method suggests entering a buy position when the RSI drops below 30, signaling oversold territory. After a buy is triggered, the position is maintained until a 5% profit target is achieved. The objective is to test the reliability of this RSI-based approach using historical Bitcoin spot price data.

To move forward, a valid price series from a reputable exchange, such as BTCUSDT.BINANCE or BTCUSD.

. must be selected. These tickers are available in the price database, ensuring the accuracy of the backtest. Once the appropriate ticker is chosen, the RSI filter will be reapplied and buy signals generated. The backtest will then be run using the 5% take-profit rule to evaluate its past performance.

Incorporating this strategy into a broader technical analysis toolkit provides a systematic way to determine entry and exit points in a volatile market. By relying on measurable indicators like RSI, traders can adopt a more disciplined approach to managing the uncertainties present in today’s market.

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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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