Bitcoin News Today: Bitcoin Whale's $1.28B Stash: Bullish Inflection or Bearish Trigger?

A Bitcoin whale identified as the "10·11 Short Whale" has once again moved large amounts of cryptocurrency to centralized exchanges, sparking renewed speculation about market sentiment and strategic positioning. On October 29, the whale deposited 200 BTC—valued at $22.5 million—into Kraken, marking the 11th such transfer in October alone. This brings the cumulative total of BTC deposits to 11,271, amounting to over $1.28 billion, according to a Bitget report.

The whale's actions are closely watched due to its high-profile shorting strategy earlier in October. Before the Trump administration announced a 100% tariff policy on China, the entity opened a leveraged short position of 3,477 BTC on Hyperliquid, reaping nearly $200 million in profits after the policy triggered a market crash. Subsequent adjustments, including adding 1,100 BTC in short positions and then closing 2,100 BTC shorts for $6.44 million in gains, underscore its aggressive and tactical approach, the report adds.

Market analysts are now dissecting the implications of these movements. Bitcoin currently trades within a critical consolidation range of $108,000 to $115,000, with key support and resistance levels shaping near-term volatility. If prices break above $114,000, cumulative short liquidation intensity on major exchanges could reach $956 million, potentially accelerating upward momentum. Conversely, a drop below $110,000 might trigger $657 million in long liquidations, exacerbating downward pressure, the Bitget report notes.

The timing of these whale activities coincides with heightened macroeconomic uncertainty. The Federal Reserve's upcoming interest rate decision—expected to cut rates by 25 basis points with 97.8% probability—adds to a broader "Super Central Bank Week," as the European Central Bank and Bank of Japan also announce policy stances. Divergent central bank actions have already influenced the US dollar index, which rose 0.39% last week, according to the report.

Institutional positioning further highlights BTC's dominance in the crypto market. Funds are increasingly concentrating allocations in Bitcoin, Ethereum, and Solana, creating a "winner-takes-all" dynamic. Stablecoins, now exceeding $300 billion in supply, have also become critical for on-chain settlements, with $46 trillion in raw trading volume over the past 12 months, the report observes.

However, risks persist. High-leverage positions across exchanges remain vulnerable to cascading liquidations during sharp price swings. Additionally, the whale's next move—whether to continue depositing BTC or re-enter short positions—could sway market direction. Investors are also monitoring institutional behavior during corrections, as increased allocations could signal a bullish inflection point, the Bitget report concludes.