Bitcoin threatens $107K next as yearly open becomes key BTC price floor
Key points:
Bitcoin gave up on its bull-market rebound as sellers stayed firmly in control.
The infamous Bitcoin whale that shorted BTC last week continued to add to its BTC price downside bet.
$107,000 was slowly emerging as a potential near-term target.
Bitcoin 
BTCUSD fell back to multi-week lows after Tuesday’s Wall Street open as traders advised a low-risk approach.
Bitcoin whale stays short BTC with $500 million
Data from Cointelegraph Markets Pro and TradingView showed BTCUSD dropping over 3% to retest $110,000.
Amid fresh volatility, Bitcoin tested hodlers’ nerves for a second time in several days as suspicions of market manipulation continued to swirl.
“Puke from the US market open led to another sweep of $110K, which is still seeing passive buying & a bit more absorption of market selling,” trader Skew wrote in his latest post on X.
Attention stayed focused on the actions of a crypto whale that shorted the market just before Friday’s $20 billion liquidation cascade.
On Tuesday, its BTC short with 10x leverage was worth nearly half a billion dollars.
Justin Wu@hackapreneurOct 14, 2025The infamous Hyperliquid whale is back.
Last time
he shorted $700M BTC + $350M ETH, pocketing nearly $200M during the crash.
This time
he’s opened a $494M Bitcoin short at 10x leverage.
Entry: $115,288
Current price: $112,600
Unrealized profit: +$11.8M and climbing.
His… pic.twitter.com/QxSThYpM8f
Other risk assets also struggled on the day, with US stocks opening down and gold dropping from its latest all-time high of nearly $4,180 per ounce.
Trader Roman told X followers to avoid overexposure amid a weak market structure on the way to $108,000.
“Now we have a potential DB reversal with volume dropping on major support,” he wrote alongside a low-timeframe price chart.
$107,000 coming next?
Taking proprietary data into account, Keith Alan, co-founder of trading resource Material Indicators, had lower levels in mind.
“$BTC is pushing down for a 4th support test at $109k, but I’m not convinced it will hold,” an X post said.
Bitcoin’s yearly open lies just below $93,500, and has formed a key level since.
Earlier, Cointelegraph reported on various key support trendlines in play, including moving averages and the aggregate cost basis for short-term holders.
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