Bitcoin Updates: Major Investors Place $20 Million Wagers on Bitcoin's Short-Term Recovery

Bitcoin is at a crucial juncture as leading traders anticipate a short-term bounce, even after its recent slide below $110,000. Insights from Hyperliquid’s on-chain and derivatives data, reviewed by Lookonchain, show that large investors are taking bold long positions, reflecting strong confidence in a possible price recovery. For instance, trader 0x9553 entered a 40x leveraged trade on 179.59

(valued at roughly $19.94 million), while a newly created wallet transferred $1.95 million in to open a long position on 4,743 ETH (approximately $18.71 million). These actions highlight the sentiment that the FOMC-induced drop might be a brief correction rather than a sign of a lasting bearish trend, according to a .

Technical signals offer a more detailed perspective. Bitcoin’s price is hovering near the $108,000 support zone, with the daily RSI under 50 and a bearish MACD crossover pointing to fading momentum. If the price falls below the $107,200–$106,600 range, it could trigger a sharper decline toward $104,000, an area where buyers have previously stepped in. On the other hand, if $108,000 holds and $110,500 is retested,

could aim for the $114,000–$116,000 range by mid-November. However, dropping below $100,000 would mark a significant psychological and technical setback, as highlighted in the Coinpedia analysis.

The market’s direction is also influenced by broader economic developments. Although leveraged longs and whale buying have helped steady short-term selling, volatility remains elevated. Trader 0xd260, who boasts an 83.72% success rate and more than $2.6 million in gains, recently opened a 40x long on 62 BTC (about $6.88 million), further supporting the view of strategic buying during downturns. Experts warn that a deeper drop could shake short-term optimism, but a quick recovery might reignite bullish momentum if macroeconomic conditions improve and FOMC-related worries ease, as noted by Coinpedia.

The outcome for November will likely hinge on whether institutional investors and macroeconomic factors align with current on-chain trends. While the road to recovery is uncertain and risky, the assertive moves by major traders suggest this decline could be a setup for a rebound rather than a lasting reversal.