Crypto Whales Switch Sides: What Do They Know That the Market Doesn’t?
Despite massive long position liquidations, several major crypto whales are making contrarian bets by opening new long positions.Summary
The recent crypto market downturn resulted in the liquidation of over $1.38 billion in long positions within 24 hours, punishing leveraged traders. However, certain high-profile crypto whales are adopting a contrarian stance. For instance, trader 0xc2a3, after suffering significant losses by closing BTC longs and selling ETH/SOL longs, has flipped bearish and opened a large 25x short on ETH. In contrast, other major traders are moving long. Trader "0x9263," who previously profited from shorts, closed all shorts to open long positions in BTC, ETH, SOL, and Uniswap, currently holding an unrealized profit. Similarly, the "Anti-CZ Whale," after realizing over $36 million in short profits, has switched to opening major long positions in assets like ETH and DOGE. Even "Bitcoin OG" increased exposure by depositing $20 million in USDC to expand BTC and ETH longs, despite current unrealized losses. These opposing moves highlight the extreme risks and divided sentiment in the crypto derivatives market.
(Source：BeInCrypto)