Bitcoin just shrugged off a huge drop and is now chilling around $BTC $114.9K. It's like nothing even happened! The way it bounced back wasn't super fast and crazy; it was slow and steady. This tells me that experienced investors, often called "smart money," bought a lot during the dip. But they're not pushing the price higher right now, not yet anyway.
If you look at the 1-hour chart, the price candles are very small and tight, with the price being rejected equally both up and down. This often happens after a big price drop, as the market tries to figure out its next move. It looks like big players, or "whales," are letting smaller investors make the first move. The price range between $BTC $113.5K and $115.8K seems designed to trick both those who buy hoping for a breakout and those who panic-sell.
Looking at the daily chart, that huge dip (often called a "liquidation wick") is just a mark on the chart. Until Bitcoin can firmly close above $116.2K, the price is just stabilizing, not reversing. A true recovery comes from strong price increases, not just quick spikes.
Interestingly, three very experienced investors (whales) have started betting against Bitcoin at this price. One of them is the same person who made $192 million from a smart trade during the Trump tariff situation. These whales don't chase fast price swings; they try to predict them. This doesn't guarantee the price will drop, but it suggests they might be looking to buy at even lower prices.
The order book still shows more people wanting to buy than sell, but the price hasn't really gone up. This means those buying are absorbing the selling pressure, not actually pushing the price higher. If those buy orders disappear, you'll see it in the price candles before any trading indicators even react.
The most important line to watch is $112.8K.
If Bitcoin breaks below this convincingly, it could quickly drop to $108K–$106K.
If it holds this level and closes above $116K, then those who bet against it will get "squeezed," and the upward trend could continue.
Right now, Bitcoin isn't clearly bullish (going up) or broken (going down). It's just looking for where people have placed their stop losses, not trying to hit new targets. The big question is, who will give in first: the experienced sellers, or the buyers waiting below $113K?
