Bitcoin News Today: Bitcoin Whale Holds $1.28B—Sign of Bullish Momentum or Bearish Signal?

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whale, known as the "10·11 Short Whale," has once again transferred a significant amount of cryptocurrency to centralized exchanges, reigniting discussions about market outlook and trading strategies. On October 29, this whale sent 200 BTC—worth $22.5 million—to Kraken, marking the 11th such transaction this month. With this move, the whale's total deposits in October have reached 11,271, totaling more than $1.28 billion, as detailed in a .

This whale has drawn attention for its notable short-selling tactics earlier in October. Prior to the Trump administration’s announcement of a 100% tariff on China, the whale opened a leveraged short position of 3,477 BTC on Hyperliquid, earning close to $200 million when the market plunged after the policy news. The report also notes that the whale later increased its short exposure by 1,100 BTC and subsequently closed 2,100 BTC shorts, securing an additional $6.44 million in profits—demonstrating a bold and calculated trading style.

Market experts are now analyzing the potential impact of these transactions. Bitcoin is currently fluctuating within a key consolidation zone between $108,000 and $115,000, with crucial support and resistance levels influencing short-term price swings. Should the price surpass $114,000, aggregate short liquidations on major platforms could hit $956 million, possibly fueling a stronger rally. On the other hand, if the price falls below $110,000, it could trigger $657 million in long liquidations, intensifying downward momentum, according to the Bitget report.

These whale movements are unfolding amid growing macroeconomic uncertainty. The Federal Reserve is set to announce its interest rate decision soon, with a 97.8% likelihood of a 25 basis point cut, contributing to what’s being called "Super Central Bank Week" as the European Central Bank and Bank of Japan also reveal their policy updates. The report notes that these differing central bank policies have already affected the US dollar index, which climbed 0.39% last week.

Institutional trends further emphasize BTC’s leading role in the digital asset space. Investment funds are increasingly focusing on Bitcoin,

, and , fostering a "winner-takes-all" environment. Stablecoins, with a circulating supply now above $300 billion, have become essential for on-chain transactions, facilitating $46 trillion in trading volume over the past year, the report highlights.

Nonetheless, significant risks remain. High-leverage trading across exchanges leaves the market susceptible to rapid liquidations during volatile price movements. The whale’s future actions—whether continuing to deposit BTC or reopening short positions—could heavily influence market trends. Investors are also watching institutional responses during market pullbacks, as increased allocations may indicate a shift toward bullish sentiment, the Bitget report concludes.