Bitcoin Whale 🐋 Bets Against Price Surge with 3,500 BTC Short as Bitcoin Dips❌

Recent trading activity and market sentiment highlight a cautious outlook for Bitcoin as key support levels and large-scale short positions come into focus, amid broader macroeconomic developments and regulatory discussions. With a prominent whale fueling short-term bearish bets, traders are closely watching technical indicators and on-chain data to gauge the cryptocurrency's next move.

📊Bitcoin remains around the $114,000 level, with a key whale increasing its short positions amid market volatility.

📊Short-term holders' cost basis hovers just below $114,000, acting as a crucial support zone.

📊Market participants are attentive to key moving averages, which currently serve as support and resistance levels.

📊Bitcoin's price response comes amid geopolitical and macroeconomic factors, such as US-China trade negotiations.

📊On-chain analytics indicate long-term uptrend remains intact despite short-term momentum weakening.

Bitcoin's price struggled to hold its recent rebound at the start of the week, amid growing concerns over a large whale adding to its short positions. The cryptocurrency hovered around the $114,000 mark, with traders watching for signs of a potential breakdown or further support.

🎯BTC/USD one-hour chart.

Bitcoin whale increases bearish bets amid declining prices. Data revealed Bitcoin retreating from the daily high of approximately $116,000. The decline followed a rapid fill of the CME Group's Bitcoin futures gap, which is often viewed as a technical support marker, and subsequent dip below the open price.

$BTC CME Gap has now been closed ✔

✨Meanwhile, macroeconomic developments were largely overlooked by markets, which remained unreactive to U.S. government comments suggesting that trade talks with China could de-escalate tensions, potentially avoiding significant tariffs.
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