A major reason behind a cautious bullish sentiment is one mysterious whale, who made $200 million in profits by shorting Bitcoin during the Oct. 9 crash.
The entity opened his position just 15 minutes before Donald Trump’s China tariff threat, which has raised suspicion that s/he might be a “Trump insider.”
As of Thursday, this whale had closed all his positions after netting $12 million in profits, according to Lookonchain.
Smart trader 0xc2a3, with a 100% win rate, just closed his $BTC short — locking in another $826K profit!
He has made a total profit of over $12M in the past 11 days with a 100% win rate.https://t.co/Xw2NAOJX55 pic.twitter.com/L3mLxSxoxg
— Lookonchain (@lookonchain) October 23, 2025
Standard Chartered Predicts Bitcoin Below $100K, But…
Standard Chartered’s Geoff Kendrick expects Bitcoin to briefly dip below $100,000 before rebounding toward his $200,000 year-end target.
He attributes the potential pullback to temporary risk-off sentiment and capital rotation into gold, which has regained strength amid geopolitical jitters.
Analysts at Standard Chartered expect $BTC to fall below $100k, but then pump again.
On the chart, their analysis looks like holding the price above the 50 WMA, which is currently at $102k 👀#BTC #Crypto #Bitcoin pic.twitter.com/uugIGjHEpj
— TheCryptologist (@SergaNikolaj) October 23, 2025
However, Kendrick also believes the move could be Bitcoin’s final sub-$100K opportunity, as gold’s outperformance historically fades once markets stabilize.
The view complements the ongoing RSI reversal in the gold-to-BTC ratio, reinforcing the idea that while gold cools from overbought levels, Bitcoin may soon reclaim leadership in the risk-asset cycle.