Bitcoin News Today: Bitcoin Below $115K as Whale Bets 73.9% Rally to $200K by Year-End

Bitcoin’s price movement below $115,000 triggered significant market activity, with a high-profile “whale” making a $23.7 million bullish bet targeting $200,000 by year-end, according to on-chain data and market analysts. The drop sparked approximately $130 million in liquidations of long positions in the past 24 hours, as per CoinGlass and Cointelegraph Markets Pro. However, the broader bullish momentum remains intact, with analysts emphasizing key technical levels to watch [1][3].

The whale’s strategy involved a bull call spread, a derivatives trade that limits both potential gains and losses. By purchasing low-volatility December $140,000 call options and funding them with higher-volatility $200,000 calls, the trader expressed confidence in a potential all-time high (ATH) breakout for Bitcoin. Deribit Insights noted this trade “dominates” the options landscape, signaling strong conviction in a late-year price surge [3]. Such large-scale bets often influence market sentiment, as seen in recent weeks when another long-dormant whale’s $9.6 billion BTC movement triggered correction concerns [3].

Technical indicators suggest Bitcoin may consolidate near $115,000–$118,000 before resuming an upward trend. A TradingView analysis highlighted a potential bullish flag or pennant pattern in this range, implying further gains if the price breaks above $120,000 [2]. However, a breakdown below $115,000 could test critical support at $113,500 or $110,530, according to analyst Daan Crypto Trades [3]. Meanwhile, Swissblock, a digital asset manager, argued the current pullback is a “rotation-led correction” rather than a bearish reversal, citing a Bitcoin risk index at zero—a sign of no market overheating [3].

Market participants remain divided on the short-term outlook. While the $200,000 forecast reflects aggressive optimism, others caution that liquidity replenishment at lower levels could delay a rebound. Harmonic pattern analysts on TradingView noted a “slight consolidation or mild pullback” scenario, with $115,000 as a pivotal threshold for trend continuation [2].

The whale’s actions underscore growing institutional and retail confidence in Bitcoin’s long-term trajectory. Despite recent volatility, the asset’s structural bull case—driven by macroeconomic factors and on-chain metrics—appears resilient. Analysts urge traders to monitor order book depth and derivative open interest for clues about the next major price inflection point [3].

Source: [1] [Bitcoin Grabs $115K Liquidity as Whale Bets on $200K BTC Price by Year-End] [https://cryptostudent.io/bitcoin/]; [2] [Technical Patterns Suggesting Continuation] [https://in.tradingview.com/symbols/BTCUSD.P/ideas/?exchange=DELTAIN]; [3] [Bitcoin Grabs $115K Liquidity as Whale Bets on $200K BTC Price by Year-End] [https://cointelegraph.com/news/bitcoin-grabs-115k-liquidity-whale-bets-200k-btc-price-by-year-end].