Bitcoin to $74K? Hyperliquid whale opens new 1,240 BTC short

Key takeaways:

• Bitcoin's rising wedge signifier suggests a imaginable driblet to $74,000 if a cardinal enactment level fails.

• A caller whale has placed $140 cardinal successful abbreviated bets connected BTC.

Bitcoin’s (BTC) method setup suggests a deeper correction to $74,000 is possible, arsenic whales person accrued their abbreviated vulnerability to BTC.

Bitcoin’s rising wedge targets a 34% terms drop

The play illustration shows the BTC/USD brace trading wrong a rising wedge, with the terms investigating enactment from the little trendline of the signifier astatine $110,000. 

Related: US Bitcoin and Ether ETFs rebound arsenic Powell signals complaint cuts

A play candlestick adjacent beneath this level volition wide that way for Bitcoin’s driblet toward the wedge’s bearish people astatine $74,000, representing a 34% diminution from the existent price. This besides coincides with its previous highest reached successful March 2024. 

BTC/USD regular terms chart. Source: Cointelegraph/TradingView

Bitcoin’s bearish lawsuit is supported by a increasing bullish divergence betwixt its terms and the relative spot index, arsenic shown successful the illustration above.

Rising wedges are typically bearish reversal patterns, and BTC’s continued consolidation wrong the pattern’s trendlines suggests that “Bitcoin’s bull tally is nearing its end,” according to expert Captain Faibik.

 “Bitcoin is inactive wrong the rising wedge and bulls are successful power for now, but not for long,” the expert said successful an X station connected Wednesday, adding:

“Momentum is fading, and erstwhile the wedge breaks, bears volition instrumentality implicit with a crisp correction ahead.”

Veteran trader Peter Brandt said Bitcoin could spot a “major shakeout” earlier returning to its all-time highs supra $126,000.

“I deliberation the time of the 80% diminution is over, but possibly backmost to $50-60,000 and trial the little tegument of the banana.”

As Cointelegraph reported, respective method and onchain metrics suggest that the BTC/USD brace could driblet to $74,000 successful the worst-case script if the terms failed to clasp supra the $110,000 enactment level. 

Bitcoin whale places $140 cardinal BTC abbreviated bet

Bitcoin bears doubled down connected their BTC abbreviated exposures arsenic calls for deeper terms drawdown person grown louder. 

Data from Lookonchain shows that a Hyperliquid whale has placed a abbreviated presumption worthy $140 million, astatine 5x leverage and a liquidation terms of $137,700.

— Lookonchain (@lookonchain) October 15, 2025

This is not the lone whale betting connected Bitcoin’s downside. On Tuesday, different Bitcoin whale that shorted BTC past week added to a $500 cardinal downside bet, with 10x leverage.

Meanwhile, onchain information showed that the ratio of unrealized nett and nonaccomplishment (NUPL) has shifted from “optimism” to “euphoria,” a inclination that has preceded blow-off tops successful the past.

This nonfiction does not incorporate concern proposal oregon recommendations. Every concern and trading determination involves risk, and readers should behaviour their ain probe erstwhile making a decision.