Massive Bitcoin (BTC) and Altcoin Whales Swing During the Drop! Here's What They're Buying and Selling!
Bitcoin (BTC), Ethereum (ETH), and altcoins experienced sharp declines, with BTC dropping to $103,000. This downturn triggered significant whale activity. Some whales sold assets in panic, while others seized buying opportunities. The 'Hyperliquid whale,' who profited $192 million during a previous crash, opened a 3x long position in BTC and ETH. Another whale, 'Whale0x4F12,' opened a 3x long position for 1.53 million ASTER using 500,000 USDC. A whale named Owen Gunden deposited 1,289 BTC worth $138.2 million to Kraken. The '7 Siblings' whale spent $52.47 million USDC to buy 14,254 ETH. However, whale '0x1b57' lost $2.15 million by selling 5,570 ETH bought 5 days earlier. Dormant whale '37BnFf' withdrew 800 BTC (worth $85.5 million) from Binance and OKX, while new wallet '3Qus8D' withdrew 190 BTC and whale 'bc1qr9' withdrew 174 BTC. The market activity indicates substantial strategic trading by whales during the decline. Note: This is not investment advice.
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Market Decline and Bitcoin's Recent Price Drop
Just when Bitcoin (BTC), Ethereum (ETH), and altcoins were about to fully recover, a new wave of decline has arrived, causing sharp drops in the market. One significant drop occurred last night, with BTC falling to the $103,000 level. This substantial decline in Bitcoin and altcoins has triggered a reaction among whales, some of whom sold in panic, while others seized the opportunity to buy at the bottom.
The 'Hyperliquid Whale' Takes Action
According to Lookonchain's post, the whale known as the 'Hyperliquid whale', who had previously earned $192 million by opening short trades during the October 11 crash, re-emerged during the recent decline. This whale opened a 3x long position in Bitcoin and Ethereum after yesterday's drop.
Whale Activity Amid Market Volatility
Another whale, “Whale0x4F12”, deposited 500,000 USDC into HyperLiquid and opened a 3x long position for 1.53 million ASTER (worth $1.48 million). The liquidation price for this position was reported to be $0.7188. Meanwhile, the giant whale named Owen Gunden deposited 1,289 BTC worth $138.2 million to Kraken.
Mysterious Whale '7 Siblings' Sees Opportunities
The mysterious whale '7 Siblings' viewed the market decline as a buying opportunity, spending 52.47 million USDC in the last 12 hours to purchase 14,254 ETH at a price of $3,681.
Losses and Strategic Moves by Whales
Meanwhile, the whale associated with the address '0x1b57' incurred a loss of $2.15 million after selling 5,570 ETH for $17.41 million, which they had purchased for $19.56 million just 5 days ago. On the contrary, some whales took advantage of the price drop. According to Lookonchain data:
- 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 174 BTC (worth $18.64 million) from Binance 6 hours ago and now holds 3,036 BTC (worth $315 million).