Bitcoin Price Prediction: Whales Close BTC Short Positions, Is The Crypto Crash Over?

Smart money investors are closing their Bitcoin short positions, suggesting that the largest cryptocurrency is on the cusp of a bullish reversal. 

On-chain analysis platform Lookonchain reveals that whale “Bitcoin OG” has closed his 2100 BTC short position, worth $227.8 million, netting $6.4 million in profits. 

Similarly, smart trader 0xc2a3 has maintained his 100% win rate, closing his latest BTC short position with $826k profit. He has now earned over $12 million in profits over the past 12 days. 

Instead, he has now opened a $45 million Bitcoin long position with 19x leverage and already has over $50k in unrealized profits. 

The Bitcoin price is back above $109,000 on Thursday after trading as low as $106,700. A reclaim of the $112,000 support would signal the start of a new uptrend, with top experts still predicting the BTC price to hit $150,000 by year-end. 

BTC ecosystem coins continue to be in strong demand as well, with the new layer-2 coin Bitcoin Hyper tipped as the next 10x crypto. 

Bitcoin Whales Close Short Positions

“Bitcoin OG” has replaced James Wynn as the most tracked crypto trader and has emerged as one of the biggest players, especially within the BTC ecosystem. 

This is the same whale who triggered a market-wide selloff after resurfacing from 14 years of dormancy and selling 80,000 BTC worth over $9.6 billion.

It’s also the same trader who shorted Bitcoin moments before Donald Trump announced new China tariffs, reportedly earning over $160 million in profit. 

Bitcoin OG has now closed his BTC short position, which indicates that the price could rebound. 

Similarly, smart trader 0xc2a3 has closed his BTC short position, bringing his profits over the last 11 days to over $12 million. 

The Bitcoin price has indeed rallied from Wednesday’s $106,700 low to trade at $109,700 at press time. The question now remains whether it could reclaim the $112,000 support. 

Bitcoin Price Prediction: Is It Time To Buy BTC?

Prominent experts continue to be bullish on Bitcoin in the mid and long terms. 

For instance, Merlijn The Trader predicts that the BTC price should hit $180,000 before the end of this crypto cycle, owing to its strong correlation with the Global M2 money supply. Meanwhile, its correlation with Gold suggests a cycle top at $160,000. 

However, sidelined investors don’t need to go all-in on BTC just yet. There is a possibility that Bitcoin retests its 50-week Exponential Moving Average, which has been the key support level throughout this bull cycle. This 50-week EMA is currently at just under $100,000. 

On the contrary, a breakout above the $112,000 S/R level would indicate the start of a new uptrend, which is another excellent buy signal. 

Is Bitcoin Hyper The Next 10x Crypto?

A recovery and potential bounce-back in Bitcoin is highly bullish for BTC-themed altcoins. 

For instance, the new BTC layer-2 coin, Bitcoin Hyper (HYPER), has now raised over $24.6 million in presale funding as whales continue to buy nonstop. 

Some of the biggest HYPER buys include $500k, $310k and $200k, which indicates strong conviction from smart money investors and high upside potential. 

Bitcoin Hyper is the newest layer-2 project in the BTC ecosystem, designed to make Bitcoin scalable, programmable, and performant. 

Powered by Solana Virtual Machine and zero-knowledge architecture, the project aims to bring the advantages of modern blockchains to Bitcoin, without compromising its decentralization and security. 

Considering BTC’s growing demand, a vast number of DeFi apps are looking to expand to the Bitcoin ecosystem, and Bitcoin Hyper could emerge as their launching pad. 

Unsurprisingly, top analysts are bullish on HYPER’s upside potential. As such, the biggest layer-2 projects reach multibillion-dollar market caps, with even BTC’s Stacks reaching a peak $5 billion valuation. 

Unsurprisingly, a low-cap gem like Bitcoin Hyper is being viewed as a multi-bagger, with early buyers eyeing anywhere between 10x to 100x returns. Moreover, early HYPER holders have also staked their coins and are currently earning nearly 50% APY.