Important takeouts:
The whale bet targets $23.7 million in Bitcoin at $200,000 by the end of the year, informing him of a strong bullish conviction.
Analysts say Bitcoin remains bullish, but $115,000 is important for the continued uptrend.
Bitcoin (BTC) announced its bid liquidity on Friday as unknown traders placed key bullish bets targeting $200,000 BTC prices by the end of the year.
Whale bets $23.7 million with BTC prices rising much higher
Data from the Cointelegraph Markets Pro and TradingView showed that BTC/USD sliced through a nearby resistor to reach $114,960.
As reported by Cointelegraph, the move has caused a massive long liquidation across the Bitcoin market, totaling $130 million over the past 24 hours.
Related: Bitcoin integration expected to end with impulse movement $135,000: Data
The monitoring resource Coinglass showed that liquidity is being replenished below the exchange order book.
Despite this drop, which has led to a pause at Bitcoin rallies, bullish conviction remains. As Delibit analysts pointed out, Whale has recently become a long BTC with a position of as much as $200,000,000, up to $23.7 million by the end of the year.
This was a complex transaction that included a spread of bull calls that limits both potential profits and losses.
“The Dec $140K-$200K call spread is dominating, buying a low $140,000 IV and giving high praise to the IV $200K call,” wrote Deribit Insights, adding, “Cole is spreading bets on the imminent asbreak.”
2) December 1400-2000 call spreads dominate, buy low 140K IV and funded by a higher IV 200k call.
Zero Cost Jul25 124k – August 29th Bets on the imminent asbreak on 140k call spread bet.
Otherwise, 2-way 130+150K call (net sales), and AUG102-SEP150K strangle pressure IV. pic.twitter.com/7zhlw41whv
– DeLibit Insights (@deribitinsights) July 20, 2025
Market attention is constantly drawn to such a position as similar whale trading has had a major impact on price trajectory in recent weeks.
Recently, Satoshi-Era whales have woken up after 14 years of dormancy, moving $9.6 billion worth of Bitcoin, sparking concerns among market observers about corrections.
Bitcoin remains bullish
The break below the low $115,000 range was what traders needed to decide whether to add or reduce exposure.
“Bitcoin has finally escaped its scope, but this is not a surrender, it’s a rotation-driven fix,” asset manager SwissBlock said in X’s Friday post.
The Bitcoin Risk Index is a metric that measures the potential for critical price drawdowns in BTC and is currently zero. This indicates that it is “not overheated”, and the bullish structure remains intact, adding:
“This trend remains bullish. Corrections at low risk levels = opportunities, not exits.”
Analyst Daan Crypto Trades said there is a low range of $115,000 needed to hold to ensure the uptrend.
“A breakdown from this range should then lead to a $113,500 retest.
As reported by Cointelegraph, a $115,000 support level could accelerate sales as daily candle scaffolding rests and closes below it rushes short-term buyers to the exit. It could sink the pair to $110,530, where the buyer is expected to intervene.
This article does not include investment advice or recommendations. All investment and trading movements include risk and readers must do their own research when making decisions.
