Whale Activity Adds Pressure to Bitcoin

[mendez]

A whale has opened massive short positions on Bitcoin, Ether, and Solana worth nearly $250 million, highlighting heightened institutional activity as BTC trades near $88,000. Analyst Ted Pillows notes that until Bitcoin retakes the $90K zone, sideways price action is expected to continue.

Despite this, bullish signals are emerging. On the three-day chart, BTC’s RSI is making higher lows while price hits lower lows—a classic divergence pattern. Traders like Jelle interpret this as a potential bottom, signaling that Bitcoin may rebound into six-figure territory in the near future.

Liquidity is thinning as traders close positions ahead of Christmas, creating a delicate balance between volatility and opportunity.

[bonk]

Whales shorting while the rest of us are just hoping Santa brings gains