Quick Takeaways
- A crypto whale who benefited $197 million in October’s crash is short-changing Bitcoin again with a $226 million leveraged bet.
- Large mongers are taking opposing positions, revealing recondite market polarization.
- Bitcoin briefly climbed above $11 000 before skidding, sparking argumentation over a possible rebound.
Bitcoin Whale Reloads With a Massive $226M Short Bet
A crypto whale who made headlines for realizing over $197 million during the October Bitcoin collapse is now betting on another major downturn. The trader, hump as BitcoinOG, has reportedly opened a $226 million leveraged short against Bitcoin (BTC).
This move was hailed as Bitcoin struggles to confirm momentum following its sharp mid-October recovery. Despite brief rebounds, market volatility remains high, dividing traders on whether BTC’s next move will be up or down.
From $197M Profit to Another Big Short
According to blockchain data from Lookonchain, the whale had closed all previous short positions on October 15, securing more than $197 million in profits across two wallets. However, within days, the same trader redeployed capital, transferring $30 million in USDC to Hyperliquid to open a 10x leveraged short position on 700 BTC worth approximately $75.5 million.
The whale has since expanded the short to $226.6 million, with a liquidation price near $123,282, according to Hyperdash. The position is currently showing unrealized profits of around $6.8 million.
Arkham Intelligence noted:
“The $10B Hyperunit Whale who made $200M shorting the China Tariff Crash just DOUBLED DOWN on his BTC short position.”
Additionally, Lookonchain reported that the whale deposited 5,252 BTC (worth over $587 million) to major exchanges, including Binance, Coinbase, and Hyperliquid, possibly signaling plans for more market activity.
Bulls Fight Back as Bitcoin Tests Resistance
Not everyone shares the whale’s bearish conviction. Bitcoin briefly surged past $114,000 before retreating, with analysts pointing to a potential capital rotation into crypto assets as gold prices dipped.
Several prominent traders have opened large long positions in response.
- 0x89AB purchased 80.47 BTC and opened a 6x leveraged long worth $14.47 million.
- 0x3fce expanded their long to 459.82 BTC ($49.7 million).
- 0x8Ae4 and 0xd8ef opened new longs across BTC, ETH, and SOL, adding millions in exposure.
Who Wins: Bears or Bulls?
With both sides taking heavy positions, Bitcoin’s next move could be explosive. The whale’s short signals caution, but growing long exposure suggests renewed confidence in a market rebound. For now, Bitcoin’s path hinges on whether the bears can push below key support or if bullish traders can spark the next breakout above $115,000.
