The crypto whale, which made $200 million last month on the crypto crash stemming from U.S.-China tariffs, is now betting $55 million that Bitcoin and Ethereum will rise again.
The Crypto Arkham analytics platform was one of the first identify on Monday, the whale’s modern long positions in Station X, which include a $37 million long Bitcoin position and a $18 million long Ether position on decentralized derivatives exchange Hyperliquid.
Dubbed the “Hyperunit Whale,” the trader recently became famed for making $200 million by successfully predicting the October 10 U.S.-China tariff crash.
Since then, HyperUnit has also made two higher-grossing tiny films, prompting Arkham to ask if “they can get it right for the fourth time in a row?”
The whale has been in the market for at least seven years, buying $850 million of Bitcoin (BTC) during the 2018 bear market and holding on until its value reached $10 billion. And they might have hit on something.
Bitcoin is currently trading at $106,598 while Ether is trading at $3,602. Bitcoin is down 15.5% from its all-time high, while Ether is down 27.3% from its all-time high.
The fear and greed index of cryptocurrencies is Currently in the “Fear” zone with a score of 42 out of 100.
Bitcoin providers cannot farm forever; they have “something to live for”
Bitwise Crypto Asset Manager CEO Hunter Horsley he said The OG whales largely contributed to the recent market correction, explaining on Saturday that staying in the market after achieving a 100- or 1,000-fold return can be “emotionally taxing” for these investors.
“They have a life ahead of them/watching $100 million or 1/3 of their wealth disappear in a bear market, even if it’s temporary, can be emotionally draining. They plan to keep holding on to a lot/most of it.”
Data from CryptoQuant also shows that long-term holders transferred 405,000 Bitcoin from around October 2 to November 2.
That said, Horsley is adamant that many of the largest shareholders have no plans to sell their shares.
The bottom may be close: Santiment
However, according to the Santiment analytical platform, most of the problems in the market may have already been felt excellent that there are currently 208,980 BTC less on cryptocurrency exchanges compared to six months ago.
Related: Retail investors “pull back” to 98.5 thousand. dollars: 5 things worth knowing about Bitcoin this week
“Despite Bitcoin’s market value falling 14% since its all-time high on October 6, it is an encouraging sign that BTC is generally staying off exchanges.”
“Generally speaking, when the supply of a coin does not move to exchanges, the risk of further sell-offs is limited.”
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