Crypto Whale Shifts to Bullish Bets After Market Volatility
A well-known crypto whale, previously noted for profiting $200 million during last months US-China tariff-driven market crash, has opened significant long positions on Bitcoin and Ethereum. The move was first reported by crypto analytics provider Arkham in a social media update on Monday.
Whale Bets on BTC and ETH Rally
The trader, referred to as the Hyperunit whale, has committed $55 million toward new bullish bets, with $37 million allocated to Bitcoin and $18 million to Ether. The positions were opened on decentralized derivatives platform Hyperliquid.
The Hyperunit whale gained notoriety after accurately predicting the impact of US-China tariff news on October 10, earning substantial returns from strategic short positions. Arkham highlighted that the whale has successfully executed two more shorts since, prompting industry observers to watch closely as the latest positions are the fourth consecutive major trade in weeks.
Long-Term Holder with Major Track Record
According to blockchain data, the whale has been active in the market since at least 2018. They reportedly purchased $850 million worth of Bitcoin during that years bear market and held the position as its value rose to approximately $10 billion.
Market Context and Sentiment
Bitcoin is currently priced near $106,598, down 15.5% from its peak, while Ether trades at $3,602, a 27.3% decline from its own record high. The Crypto Fear & Greed Index registers at 42, signaling lingering caution among market participants.
Hunter Horsley, CEO of asset manager Bitwise, commented that long-standing crypto investors have contributed to the recent correction as taking profits after large gains can be challenging. Blockchain data from CryptoQuant indicates that long-term holders reduced their positions between October 2 and November 2.
Nevertheless, Horsley suggested that large investors are not necessarily planning to sell further, while analytics firm Santiment reported a positive trend: Bitcoin balances on exchanges have decreased by nearly 209,000 BTC over the past six months, indicating stronger holding behavior even as the market value remains volatile.
Market participants are watching the whales newest positions as a potential signal for broader sentiment shifts in Bitcoin and Ethereum.
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