Bitcoin and the overall crypto market have witnessed one other significant downturn this year, with costs falling by double digits within the late hours of Friday, October 10. This bearish strain began when rumors of a commerce warfare between the United States and China emerged within the early hours of Friday.
The downward strain intensified after US President Donald Trump declared that the US would impose a 100% tariff on Chinese items. As a results of this announcement, over $5.5 billion was liquidated from the crypto market in lower than an hour, with the Bitcoin value briefly falling to as little as $101,500.
Is This BTC Whale Linked To The US Government?
In a current publish on X, on-chain analyst Maartunn highlighted a selected Satoshi-era Bitcoin investor who may need anticipated this downturn approach earlier than it occurred. A have a look at the dealer’s market strikes means that the massive BTC holder virtually all the time is aware of one thing the market doesn’t.
While the worth of Bitcoin steadily dropped in direction of $117,00 throughout the day, blockchain analytics platform Lookonchain revealed that this Bitcoin OG saved piling up their brief positions as much as $1.1 billion. Following the BTC crash beneath $110,000, this huge investor made a revenue of over $160 million, resulting in speculations about them having insider data.
Maartunn went additional to spotlight the massive holder’s actions up to now few months. According to the analyst’s publish on the social media platform X, this Bitcoin OG began promoting a part of their 86,000 Satoshi-era BTC stash when costs peaked round August 2025.
Similarly, the BTC whale took to shaving off their holdings once more when the Bitcoin value ran as much as new highs in early October. What’s extra fascinating is that the Satoshi-era investor quickly opened leveraged brief positions on each Bitcoin and Ethereum on the Hyperliquid platform.
Maartunn thought that the timing of those trades may be fascinating, particularly as the overall crypto market soon witnessed a downturn attributable to President Trump’s tariff announcement. The on-chain analyst then concluded that the “Satoshi-era OG have insider ties to the US government.”
Bitcoin Price At A Glance
As of this writing, the worth of BTC stands at round $113,250, recovering swiftly from the plunge to round $101,500. However, the premier cryptocurrency remains to be down by practically 7% up to now 24 hours.
