Bitcoin News Today: Crypto Whales Test Bitcoin's $90k–$94.5k Range as Market Waits for Next Move

On-chain data reveals a surge in whale activity across major crypto derivatives platforms, with key players adjusting positions amid Bitcoin's prolonged struggle to reclaim critical price levels. According to monitoring tools, the "BTC OG Insider Whale" transferred $10 million in USDC to Hyperliquid on November 25, using it to open a 5x leveraged ETH long position worth $43.95 million at an average price of $2,945, with a liquidation price set at $2,326. The same whale is now holding 15,000 ETH long, valued at $43.8 million, though it faces an unrealized loss of $370,000 as Ethereum trades within a narrow range.

Meanwhile, "The Ultimate Short," a major BTC bearish player, has raised its short liquidation price to $94,000 by depositing $3 million in collateral. The position, valued at $108 million, now carries a floating profit of $28.51 million, reflecting confidence in Bitcoin's inability to sustain a rally above this threshold. This aligns with broader market sentiment, as Bitcoin retreated below $94,000 on November 25 after a brief rebound, triggering fresh long liquidations and reinforcing bearish momentum.

Other notable whale movements include "The Calm Liquidation King," which incurred $2.8 million in losses from BTC and SOL short positions, and "The 40x Short King," which reduced its BTC short exposure by 88% after taking profits. In contrast, "Pal" added $13.35 million in ETH and $830,000 in HYPE to its long positions, while Multicoin Capital continued accumulating AAVE, though it now holds $49.52 million in the token with a floating loss of $13.9 million.

The broader market context underscores Bitcoin's fragility. Despite a 1.1% rise in futures open interest to $140 billion, liquidations eased to $271.93 million, a drop from mid-week spikes exceeding $600 million. However, derivatives data highlights a cluster of liquidations between $93,000 and $94,500, a range that has repeatedly failed to hold as buyers retreat. Analysts warn that renewed macroeconomic risks, including proposed U.S. tariffs on Russian allies and lingering inflation concerns, could deepen the slump.

Altcoins followed a mixed trajectory, with Ethereum and Solana trading in tight ranges while niche tokens like STRK, MYX, and AB surged on project-specific catalysts. STRK's 34% rally was fueled by staking growth and institutional adoption, while MYX's gains reflected strong DeFi fundamentals and a Chainlink integration. AB's 14.6% rise followed a wallet upgrade and a strategic partnership with Trump-backed World Liberty Financial, enhancing its cross-chain capabilities.

As the Altcoin Season Index remains at 30-well below the 75 threshold for altcoin dominance-Bitcoin's performance will likely dictate the market's direction. Technical analysts caution that a break below $90,000 could invite further selling, while a sustained move above $94,500 might trigger short-covering rallies. For now, whales appear to be testing the boundaries of a compressed $90,000–$94,500 range, with their next moves likely to shape the crypto market's near-term trajectory.