Bitcoin (BTC) has recently made a slight recovery, rebounding to $108,300, up 0.49% in the last 24 hours. Despite this, there are some who remain skeptical about the sustainability of the rally. Among them is a well-known Bitcoin OG, nicknamed the “Trump insider,” who has intensified his bearish position on the cryptocurrency. Known for profiting $200 million during the Trump-China tariff crash, this influential whale has now placed a $234 million short bet on Bitcoin, sending ripples of concern throughout the crypto community.
The Whale’s Recent Moves
The so-called “Trump insider” has made waves in the market by moving a significant amount of Bitcoin and placing a substantial short position. In the past few days, he transferred 3,003 BTC to Binance, increasing his total short position on Bitcoin to 2,100 BTC, worth approximately $227 million. This move comes as Bitcoin has shown some signs of recovery from the sharp decline in early October. But the whale is betting that the recovery might not last long.
On October 21, 2025, he also placed a new $234 million short position on BTC through the decentralized exchange Hyperliquid (HYPE). His liquidation price for this position is set at $123,000, meaning if Bitcoin’s price rises above that level, his position could face a margin call and be forcibly closed. This has led many traders to speculate that the whale expects a potential correction in Bitcoin’s price, with some even predicting a retest of the $100,000 mark or lower.
A History of Bearish Moves
This whale’s track record has fueled the market’s attention. During the Trump-China tariff dispute, he made a significant profit of $200 million by shorting Bitcoin. This previous success has made traders wary of his current positions, wondering if history could repeat itself with another correction.
In fact, the whale’s influence is so substantial that his movements in the derivatives market can shift sentiment. His total exposure in short positions, which at one point reached around 3,440 BTC (valued at approximately $392 million), highlights the size of his impact on the market. The whale’s actions suggest that he is positioning himself for a potential downturn, rather than betting on a continued upward trend.
Market Reaction: Will Bitcoin Retest $100,000?
The timing of the whale’s trades has sparked a lively debate among traders. Some believe that the recent Bitcoin rally has already reached its peak, while others are more optimistic, expecting the rally to continue. The whale’s bet against Bitcoin is certainly one to watch, as it signals a strong belief that the market is poised for a correction.
Crypto market sentiment is currently neutral, with the Fear & Greed Index sitting at 50 and Bitcoin dominance hovering around 60%. This suggests that while there is a balanced outlook, traders are still cautious. Additionally, the growing institutional involvement in the space, particularly with products like BlackRock’s Bitcoin ETF, suggests that the market may be maturing, potentially reducing extreme volatility in the long term.
What Does This Mean for Bitcoin?
Despite the market’s cautious optimism, Bitcoin’s post-halving behavior and the actions of long-term holders have kept price fluctuations relatively mild. However, the risk of a significant price move remains high, and the whale’s short positions only add to the uncertainty.
The Bitcoin OG’s $234 million short bet has traders on edge, as it suggests a potential market correction in the near future. If Bitcoin fails to break through resistance levels and continues to struggle to maintain its rally, the whale’s prediction could very well come true.
Conclusion: Is Another Correction Coming?
The question on everyone’s mind is whether Bitcoin’s recent recovery is just a temporary rebound or the start of a sustained rally. The “Trump insider” Bitcoin OG’s $234 million short position has cast doubt on the latter. With institutional interest in Bitcoin growing, and volatility potentially reducing, the next few weeks could reveal whether this whale’s bearish bet will pay off or if Bitcoin bulls will overpower the market and push prices higher.
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