Bitcoin’s Midlife Crisis: Gap Filled, But Whales Dropped a $240M Bomb 💣

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Key points:

  • Bitcoin fills its weekend CME futures gap, but bulls struggle to produce a BTC price turnaround-like trying to bungee jump with a sandbag.

  • Analysis shows Bitcoin whales selling into price at local highs. Classic: “I’ll get out just as the elevator hits the 104th floor.”

  • Derivatives traders continue to avoid risk with $100,000 still hanging in the balance. Who needs heartburn when you can have coffee and a nap?

Bitcoin (BTC) delivered a classic futures “gap fill” after Tuesday’s Wall Street open, because nothing says “confidence” like a circus act where the lion escapes and the clowns faint. Traders demanded a rebound, probably while sipping overpriced lattes and muttering about “the good old days.”

BTC price suffers from new exchange sell-off

Data from CryptoMoon Markets Pro and TradingView showed that the BTC price action dipped further after hitting new November highs near $107,500-because nothing says “peak performance” like immediately tripping over your own ego.

That formed a key resistance zone that bulls were unable to overcome, with BTC/USD then reversing downward. In doing so, the pair filled its latest weekend “gap” in the CME Group’s Bitcoin futures market, located at $104,000. As CryptoMoon reported, such gaps often form short-term targets for the BTC price. Because nothing’s more reliable than a financial system run by people who think “gap” means “opportunity.”

“Another gap closed within the first few trading days of the week. This has become an incredibly reliable and predictable pattern by now,” trader Daan Crypto Trades wrote on X. Fair, but have you ever tried predicting what your in-laws will wear to Thanksgiving? Same vibe.

“Most people are aware of this, so you’d assume at some point it would stop happening. Usually I’d agree, but this has been a high probability event for the past 4-5 years by now.”

With a rebound yet to occur, trading resource Material Indicators warned that a snap sell-off by Bitcoin whales worth $240 million had contributed to the comedown. Because nothing says “trust” like a whale casually swimming away with your life savings.

FireCharts shows a massive $240M market dump in the $BTC order book.

Interestingly, Brown Mega Whales only account for about $3M of that.

– Material Indicators (@MI_Algos) November 11, 2025

“Some size sold into $104K price area & renewed short interest,” trader Skew added. Because “pivotal price point” is just a fancy way of saying “this is where I decide to panic.”

“Pivotal price point here.”

Earlier, market participants outlined the BTC price support targets now relevant, including sub-$100,000 levels. Because nothing says “stability” like a number with five zeros and a nervous breakdown.

Bitcoin derivatives eye ”strong buying opportunity”

While the price fluctuated around the $100,000 mark, analysis revealed a major risk-off shift among derivatives traders. Open interest (OI) decreased by over 11% in a week. Because who needs excitement when you can have a spreadsheet and a therapist?

Open interest (OI) decreased by over 11% in just a week, onchain analytics platform CryptoQuant revealed in one of its “Quicktake” blog posts. Because nothing says “recovery” like a 11.32% drop and a motivational quote from a guy named Guga.

“The 11.32% drop in OI over 7 days is a sign that the market is eliminating speculative risk, which has historically been a precursor to recovery,” contributor GugaOnChain wrote. Probably while sipping kombucha and side-eyeing his stock portfolio.

“While volatility may persist in the short term, the metric suggests that the market is consolidating on a more stable base, setting the stage for a subsequent rally and confirming the thesis that the current region represents a buying opportunity for long-term investor.”

The post added that the current deleveraging event “signals a strong buying opportunity.” Because nothing says “opportunity” like a fire sale hosted by a bunch of crypto clowns. 🤡💰

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2025-11-11 20:30