Just when Bitcoin (BTC), Ethereum (ETH), and altcoins seemed poised for a full recovery, a new wave of sharp declines has hit the market. One notable drop occurred last night, with BTC falling to the $103,000 level. This recent downturn has mobilized whales, with some selling in panic while others are seizing the opportunity to buy at the bottom.
According to a post by Lookonchain, the whale known as the “Hyperliquid whale”—who initially earned $192 million by opening short trades during the crash on October 11—has reemerged in the latest decline. This whale opened a 3x long position in both Bitcoin and Ethereum following yesterday’s drop, as revealed by on-chain data.
Another significant move came from the whale “Whale0x4F12,” who deposited 500,000 USDC into HyperLiquid and opened a 3x long position with 1.53 million ASTER tokens, worth approximately $1.48 million. The liquidation price for this position was reported as $0.7188.
Meanwhile, a giant whale named Owen Gunden deposited 1,289 BTC—valued at $138.2 million—to Kraken. Similarly, the mysterious whale group “7 Siblings” capitalized on the market dip by spending 52.47 million USDC in the last 12 hours to purchase 14,254 ETH at an average price of $3,681.
Not all whales fared well, however. The whale with the address “0x1b57” suffered a loss of $2.15 million after selling 5,570 ETH, which he had bought for $19.56 million just five days ago.
Further on-chain data from Lookonchain shows that multiple whales have bought BTC within the last six hours:
– Whale “37BnFf,” dormant for a year, withdrew 800 BTC (worth $85.5 million) from Binance and OKX.
– A new wallet, “3Qus8D,” withdrew 190 BTC (worth $19.76 million) from Binance.
– Whale “bc1qr9” withdrew another 174 BTC (worth $18.64 million) from Binance six hours ago and currently holds 3,036 BTC valued at $315 million.
As the market continues to experience volatility, these whale activities highlight varying strategies from panic selling to opportunistic buying.
*This is not investment advice.*
https://bitcoinethereumnews.com/bitcoin/massive-bitcoin-btc-and-altcoin-whales-swing-during-the-drop-heres-what-theyre-buying-and-selling/
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