The Whale’s 55M Bet: A Tale of Bitcoin and Bear Markets

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Behold, the crypto whale, a creature of the digital deep, who once danced with the October crash and emerged with a purse full of $200 million. Now, with a sly grin, it casts its net wide, betting $55 million on the return of Bitcoin and Ethereum. 🐟💸

The enigmatic Arkham, that arbiter of crypto’s mysteries, first noticed this new long position on X, a $37 million Bitcoin wager and an $18 million Ethereum plunge on Hyperliquid. One might say the whale has a flair for the dramatic. 🧠

Referred to as the “Hyperunit whale,” this trader has become the talk of the market, having once predicted the US-China tariff crash with the precision of a chess grandmaster. 🏰

HyperUnit has also executed two more profitable shorts since then, which has prompted Arkham to ask, “Will they ‘Get it right for the FOURTH time in a row?’” A question as old as the market itself. 🤔

For at least seven years, this whale has swum in the depths, purchasing $850 million of Bitcoin during the 2018 bear market, holding fast until its value soared to $10 billion. A tale of patience, or perhaps madness. 🐟

Bitcoin now trades at $106,598, while Ether languishes at $3,602. A 15.5% drop from its peak, and a 27.3% plunge for Ether. The market, it seems, is in a melancholy mood. 📉

The Crypto Fear & Greed Index, that barometer of human folly, now hovers in the realm of dread, scoring a dismal 42. A testament to the fragility of hope. 🧠

Bitcoin OGs Can’t HODL Forever; They Have a “Life to Live”

Crypto asset manager Bitwise CEO Hunter Horsley, that sage of the market, mused that OG whales have largely contributed to the recent correction. “Ah, the burdens of wealth! To have one’s soul weighed down by the specter of a bear market, even if temporary. They plan to keep holding much / most.” A sentiment as fleeting as the market itself. 🧠

“They’ve got life to live / it can be emotionally taxing to see $100M or 1/3 of their wealth gone in a bear market, even if temporary. They plan to keep holding much / most.”

CryptoQuant’s data reveals long-term holders offloaded 405,000 Bitcoin from Oct. 2 to Nov. 2. A curious dance of greed and fear. 🧠

Yet Horsley insists, with the certainty of a man who’s seen it all, that many of the biggest holders won’t sell. A comforting lie, perhaps, but one the market clings to. 🤞

The Bottom Could Be Near: Santiment

But Santiment, that oracle of blockchain, suggests the worst may be behind us. “Despite Bitcoin’s 14% drop since its all-time high, an encouraging sign is the fact that BTC is generally staying off of exchanges.” A whisper of hope in a storm. 🌧️

“Overall, when a coin’s supply is not moving to exchanges, the risk of further sell-offs are limited.”

And so, the market teeters, a pendulum of hope and despair, as the whale swims on, ever the enigma. 🐟

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2025-11-04 03:53