Bitcoin traded around $88,600 to $89,800 on Dec. 15 as social media posts pointed to Wintermute linked transfers, a mostly filled CME gap, and a daily uptrend support test that some traders said could decide the next move.
Price action showed BTC down about 1.68% near $88,629 on the BTC USDT pair, while CME futures traded near $89,780 after an early gap narrowed, and the daily chart held just above a rising support line that analysts warned could expose $80,000 if it breaks.
Wintermute linked BTC transfers draw attention as Bitcoin trades near $88,630
Claims about Wintermute “dumping” Bitcoin spread on X on Monday after an account said the market maker had sold $1.5 billion in BTC and continued selling every few minutes. The post did not provide independently verifiable evidence for the dollar figure.
BTC USDT 1 hour price chart. Source: Binance / x
Bitcoin traded near $88,629 on the BTC USDT pair, down about 1.68% at the time of the update. The session range showed a 24 hour high near $90,472 and a 24 hour low near $88,497, according to Binance.
Onchain labeling data also showed multiple BTC transfers associated with Wintermute tagged wallets moving to exchange linked destinations, including wallets labeled for Binance, Bitstamp, OKX, and KuCoin, according to Arkham. However, those transfers alone do not confirm market sales, since market makers also move coins for inventory management, settlement, and liquidity operations
Bitcoin CME gap narrows after early session move, analyst says
Bitcoin’s CME futures opened with a fresh gap that “most has been closed straight away,” according to trader Daan Crypto Trades in a Dec. 15 post on X.
Bitcoin CME Futures 15 minute chart CME Gap. Source: Daan Crypto Trades via X
On the 15 minute CME futures chart, BTC traded near $89,780 after printing an open around $89,990, a high near $90,035, and a low near $89,775, with the session showing a $180 move lower, or about 0.20%, on the label shown.
The chart marked the remaining gap area as a narrow zone around $90,200 to $90,400, and the analyst said what remained looked “pretty negligible,” adding that the gap did not appear to be a major focus for the week.
Bitcoin tests rising support near $89,000 as chart flags $80,000 retest risk
Meanwhile, Bitcoin traded near $88,935 on the daily BTC USDT chart as price pressed against a rising support line that has held since the late November rebound, according to a TradingView graphic shared by analyst Ted, known as @TedPillows, on X.
BTC USDT 1 day chart. Source: TradingView, Ted via X
The chart shows BTC sliding from the $120,000 to $124,000 area in October into a broader downtrend, then shifting into a tighter range from late November. Price action formed higher lows along an upward sloping trendline, while repeated rallies stalled near a flat resistance band around $95,000, creating a wedge like structure on the daily timeframe.
Ted said the zone is “crucial” because a break below the rising trend support could open the door to another move toward $80,000. The chart’s prior swing low from late November also sits just above that area, which makes $80,000 to $84,000 the next visible demand zone if support gives way, while $92,000 and $95,000 remain the closer levels to reclaim on any rebound.
Source: https://coinpaper.com/13128/bitcoin-whipsaws-near-89-k-as-wintermute-transfer-claims-and-cme-gap-talk-collide
