Bitcoin News Today: Crypto Whales Double Down as Fed Uncertainty and Geopolitical Tensions Fuel Market Volatility

The cryptocurrency market is witnessing a surge in aggressive long positions from major players, despite broader volatility and uncertainty surrounding central bank policies and geopolitical developments. A prominent contract whale has added 2,621.95 ETH to their long position, bringing their total exposure to 16,380.08 ETH, signaling confidence in a potential market rebound, according to a Coinpedia analysis. This activity aligns with broader bullish bets on platforms like Hyperliquid, where traders are leveraging up to 40x on Bitcoin and Ethereum positions. For instance, wallet 0x9553 opened a $19.94 million 40x BTC long, while 0x6988 deployed $1.95 million in USDC for a 25x ETH long, as noted in Coinpedia's live updates. Such moves underscore a growing conviction among institutional and high-net-worth investors that the recent pullback may present a buying opportunity.

The market's turbulence, however, remains tied to Federal Reserve (Fed) policy uncertainty. After delivering a 25 basis point rate cut in October, the Fed left the door open for further easing but hinted that the December meeting's decision is far from guaranteed, according to an FXStreet report. Chair Jerome Powell emphasized that the ongoing U.S. government shutdown complicates data transparency, casting doubt on the central bank's ability to proceed with additional cuts. This ambiguity has triggered $550 million in outflows from Bitcoin and Ethereum ETFs over the past week, as Coinpedia reported, with funds like Fidelity's FBTC and Ark & 21Shares seeing significant redemptions. Meanwhile, Bitcoin's price action remains constrained between $115,200 resistance and $111,300 support, with analysts noting that a break above the former could reignite bullish momentum, as the live updates also noted.

Geopolitical developments have also injected volatility into the crypto space. A high-stakes meeting between U.S. President Donald Trump and Chinese President Xi Jinping in South Korea yielded tentative trade progress, including reduced U.S. tariffs on Chinese goods and discussions on chip export restrictions, according to FXStreet coverage. While these steps have eased some market fears, the broader impact on risk assets remains unclear. The meeting coincided with a $150 million spike in crypto liquidations, with Bitcoin, Ethereum, and XRP all dropping over 3% in the 24-hour period, FXStreet later reported.

Technical indicators suggest Bitcoin is at a critical juncture. On-chain data reveals declining sell pressure on lower timeframes, hinting that whale accumulation and leveraged positions may stabilize the market, the Coinpedia analysis also shows. However, a close below $108,000 could accelerate a slide toward $104,000, where historical demand might resurface. Conversely, a retest of $110,500 could set the stage for a retest of $114,000 resistance by mid-November, the Coinpedia analysis adds. Analysts caution that macroeconomic clarity and Fed policy resolution will be pivotal in determining the trajectory.