While the broader crypto market remains in correction mode, new on-chain and trading data reveal that whales are quietly loading up on leveraged long positions, signaling that a major volatility event may be imminent.
Millions in New Long Positions
According to recent trading data shared by market trackers, several large wallet addresses have opened multi-million-dollar long positions across Bitcoin (BTC) and Ethereum (ETH) within the last 24 hours. Many of these positions were established at leverage levels between 20x and 40x, with margin allocations in the tens or even hundreds of thousands of dollars.
The largest entries were recorded at prices between $102,600 and $102,800 for Bitcoin and $3,470 to $3,495 for Ethereum, levels suggesting that whales are attempting to buy the market dip with substantial leverage.
This pattern often precedes large directional moves, either sharp rallies driven by short squeezes or rapid sell-offs triggered by overleveraged longs.
Market Setup Mirrors Pre-Breakout Conditions
Despite the recent wave of fear in the market, Bitcoin’s funding rates have started to normalize after last week’s liquidation cascade, and open interest has rebounded across major exchanges. Combined with whale accumulation in spot and derivatives markets, this setup indicates growing confidence that a reversal could be near.
Ethereum traders are showing a similar trend. The ETH/BTC ratio, a key metric for tracking capital rotation, is hovering near levels that historically mark the start of altcoin recoveries, according to analysts.
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Why It Matters
When large investors increase leveraged exposure during market weakness, it often reflects expectations of a strong rebound rather than continued decline. Historically, similar periods of aggressive whale positioning have preceded major market reversals, such as those in early 2023 and mid-2024.
However, leverage at this scale also introduces risk. If Bitcoin fails to hold the $100,000 support level, cascading liquidations could trigger another violent downswing before any recovery takes hold.