Bitcoin Rises 0.42% as Whale Shorts and Tether Buys

On November 7, 2025, Bitcoin edged higher by 0.42% in the past 24 hours to trade at $101,748.87. Over the past week, the price declined by 7.93%, and over the past month by 7.14%. However, on an annual basis, Bitcoin has gained 8.76%. Market activity remained centered on large whale movements, short positions, and institutional purchases.

A prominent on-chain whale, known for its bearish strategy, has executed a fourth consecutive short on Bitcoin. According to on-chain analyst Ai Auntie, the whale realized a profit of $12.99 million over the course of the week. Between October 24 and 28, the whale added to its short position multiple times. As of now, it holds 1,231.98 BTC in short contracts, with an average entry price of $111,499.3 and a total position value of $124 million. This whale’s consistent bearish bias has become a focal point for on-chain watchers.

Meanwhile, Tether, the issuer of the USDT stablecoin, has increased its Bitcoin holdings by 961 BTC, valued at $97.34 million. Tether's total Bitcoin holdings now amount to 87,290 BTC, valued at $8.84 billion. This marks the latest in a series of strategic Bitcoin purchases by the stablecoin giant, underscoring its long-term bullish stance on the asset.

The broader market has been marked by uncertainty, with Bitcoin ETF outflows deepening and macroeconomic fears growing. Over the past two weeks, Bitcoin ETFs have experienced net outflows of $2 billion, intensifying downward pressure on the price. Weak earnings reports and macroeconomic uncertainty have fueled concerns about Bitcoin falling below the $100,000 psychological level. The BTC 2-month futures annualized premium has fallen below the 5% threshold, signaling fading bullish demand.

Bitcoin’s price dip to $100,300 on Thursday did not trigger a drop in futures open interest, suggesting that bullish traders added margin to avoid liquidation. This behavior implies cautious confidence in the $100,000 support level, despite a highly bearish options delta skew that has pushed the put-call ratio to 14%, a sign of extreme market fear.

Backtest Hypothesis

Given the prevailing bearish sentiment and the technical structure of Bitcoin’s price movements, a backtesting strategy is being considered that relies on the use of the Relative Strength Index (RSI) as a key signal indicator. The strategy is designed to identify oversold conditions, which could signal potential reversals.

The proposed approach involves generating buy signals when the RSI falls into the oversold territory (below 30). Once a buy signal is triggered, the position is held until a 5% take-profit threshold is reached. The goal is to validate the effectiveness of this RSI-based strategy using historical data from a reliable Bitcoin spot price series.

To proceed, it is necessary to identify a valid price series from a recognized exchange, such as BTCUSDT.BINANCE or BTCUSD.COINBASE. These symbols are known to be available in the price database, ensuring the integrity of the backtesting process. Once the correct ticker is confirmed, the RSI screening will be re-run, and the buy signals will be generated. The backtest will then be executed using the 5% take-profit rule to assess its historical performance.

The integration of this strategy into the broader technical analysis framework offers a data-driven method to evaluate entry and exit points in a volatile market. By focusing on quantifiable indicators like RSI, traders can develop a disciplined approach to navigating the uncertainties of the current market environment.