Key Takeaways:
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The rising Bitcoin wedge pattern suggests a potential collapse at $ 74,000 if a major support level fails.
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A new whale put $ 140 million in short bet on BTC.
Bitcoin’s (Btc) Technical prefunction suggests a deeper correction to $ 74,000 is possible, as whales have increased their brief exposure to BTC.
Bitcoin’s rising wedge targets a 34% price collapse
The weekly chart shows the BTC/USD Trade pair within a rising wedge, with price test support from the lower pace of the pattern to $ 110,000.
Related: US Bitcoin and Ether ETFs are reversing while Powell rate cuts have cited rates
A weekly candle near this level will remove the path for falling Bitcoin towards the Wedge Bearish target of $ 74,000, representing a 34% decline from the current price. It also matches its its Previous peak reached in March 2024.
Bitcoin’s bearish case is supported by a growing difference -Irs bullish between its price and the KaMag -Kaba -child index -child -childAs shown in the chart above.
Raising wedges are usually returning patterns, and BTC’s ongoing integration -joining the pattern trendlines suggests that “Bitcoin’s Bull Run is nearing its end,” according to analyst Captain Faibik.
“Bitcoin is still inside the rising wedge and the bulls are in control today, but not for long,” the analyst Says In an X post on Wednesday, adding:
“The momentum is fading, and once the wedge breaks, the bear will take a sharp correction ahead.”
Veteran businessman Peter Brandt said Bitcoin can see a “basic shake” before returning all the time high over $ 126,000.
“I think the day of 80% decline is over, but maybe back to $ 50-60,000 and try the lower banana skin.”
Number Cointelegraph reportedMany technical and onchain metrics suggest that the BTC/USD pair can drop to $ 74,000 in the worst case if the price fails to hold above the $ 110,000 support level.
Bitcoin Whale puts $ 140 million BTC Short Bet
Bitcoin Bears doubled In their brief BTC exposure because calls for deeper price drawdown are growing strongly.
Data from lookonchain shows that a hyperliquid whale has put a short position worth $ 140 million, at 5x leverage and a demolition price of $ 137,700.
Another whale, 0xc2a3, just opened a 5x short to 1,240 $ Btc($ 140m) to #Hyperliquid.
Liquidation Price: $ 137,700https://t.co/9ppqwckrhj pic.twitter.com/3ylhgdkmai
– lookonchain (@lookonchain) October 15, 2025
This is not just the betting of the whale Bitcoin’s downside. On Tuesday, another bitcoin whale that Shortened BTC last week added to a $ 500 million downside betwith 10x leverage.
Meanwhile, meanwhile Onchain data showed That the ratio of unstoppable income and loss (NUPL) has moved from “optimism” to “euphoria,” a trend preceding blow-off tops in the past.
This article does not contain investment advice or recommendations. Every transfer of investment and trading involves risk, and readers should conduct their own research when deciding.
