Just when Bitcoin (BTC), Ethereum (ETH) and altcoins were about to fully recover, a new wave of decline is coming and sharp declines are experienced.
One of these sharp declines occurred last night, with BTC falling to the $103,000 level.
Whale Activity Amidst Market Volatility
The recent decline in Bitcoin and altcoins has also mobilized whales, with some whales selling in panic and others buying at the bottom.
According to Lookonchain's post, a whale, which first earned $192 million by opening short trades during the crash on October 11, resurfaced in the latest decline. This whale, known as the “Hyperliquid whale,” opened a long position after yesterday's drop. According to on-chain data, the whale opened a 3x long position in Bitcoin and Ethereum.
Another whale, identified as “Whale0x4F12,” deposited 500,000 USDC into HyperLiquid and opened a 3x long position for 1.53 million ASTER, valued at $1.48 million. The liquidation price for this position was reported as $0.7188.
Conversely, the giant whale named Owen Gunden deposited 1,289 BTC, worth $138.2 million, to Kraken.
Viewing the market decline as a buying opportunity, the mysterious whale “7 Siblings” spent 52.47 million USDC in the last 12 hours. This whale purchased 14,254 ETH at a price of $3,681.
On the other hand, a whale with the address “0x1b57” incurred a loss of $2.15 million by selling 5,570 ETH, which was bought for $19.56 million just five days prior.
Recent Bitcoin Accumulation by Whales
Furthermore, according to Lookonchain data, multiple whales have been purchasing BTC in the last six hours.
- •Whale 37BnFf, who had been 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 an additional 174 BTC (worth $18.64 million) from Binance six hours ago and currently holds 3,036 BTC (worth $315 million).