Here’s What Massive Whales Did in the Last Few Hours as Bitcoin (BTC) Plunged
Bitcoin (BTC) price dropped by 3% to $98,000 within 24 hours, sparking notable whale activity in the cryptocurrency market. Significant events included a 'big unknown whale' reopening a 25x leveraged ETH long position, accumulating 14,635 ETH valued at $49.3 million after making a $440,000 scalp profit. A newly created wallet similarly opened a 25x leveraged ETH long position by depositing $5.66 million to HyperLiquid. Owen Gunden transferred 2,401 BTC ($244.96 million) to Kraken, with 2,499 BTC ($258.58 million) remaining in his wallet. Another whale, MachiBigBrother, expanded his ETH and UNI positions, depositing 2.44 million USDC into HyperLiquid, reaching 6,275.7 ETH ($21.3 million) and 88,888.8 UNI ($705,000).
Layer-1
Decentralized Exchange
Bitcoin Price Drops Amid Market Activity
Bitcoin (BTC) price fell to the $98,000 level following a 3% pullback in the last 24 hours. This decline coincided with heightened on-chain whale activity, which has drawn significant attention in the cryptocurrency market. Large ETH positions, high leverage long trades, and substantial BTC transfers have become focal points for crypto users.
Significant Whale Activity in ETH
As the market declined, an address known as the “big unknown whale” reopened a long position on ETH with 25x leverage. The whale now holds a total position size of 14,635 ETH, valued at approximately $49.3 million across two wallets. Before initiating this trade, the whale conducted a scalp trade using the “0x93c” wallet, generating a profit of $440,000, pushing his total profit to $776,000.
New Wallet Makes Major ETH Moves
A newly created wallet has opened a 25x leveraged ETH long position by depositing $5.66 million into the HyperLiquid exchange. This wallet has been linked to another whale address that previously deposited $8 million USDC into HyperLiquid to open an ETH position.
Owen Gunden's Significant BTC Transfer
One of the most notable movements came from Owen Gunden, who transferred 2,401 BTC (valued at $244.96 million) to Kraken around three hours ago. Despite this transfer, Gunden's wallet still holds 2,499 BTC (worth $258.58 million), showcasing significant holdings and activity.
MachiBigBrother Increases ETH and UNI Positions
Another prominent whale, MachiBigBrother, continued to grow his ETH and UNI long positions. In the last 8 hours, he deposited 2.44 million USDC into HyperLiquid, bringing his positions to 6,275.7 ETH (valued at $21.3 million) and 88,888.8 UNI (worth $705,000).