Leveraged bulls lost $688.56 million to liquidations in a single day as Ethereum (ETH) and Bitcoin (BTC) slid. One Hyperliquid whale with a near-flawless record has stepped into that selloff with a big long bet.
The trader has opened ETH longs worth about $60.7 million. Those positions already sit on roughly $2.6 million in unrealized profit, Lookonchain data showed.
The Bitcoin Trades Behind a $29.75 Million Record
The whale built that record quickly. It created 4 new wallets about 4 months ago and began trading on Hyperliquid, a decentralized derivatives exchange.
Since then, the trader has closed 15 trades with only 1 loss, according to data shared by Lookonchain. That loss was $3,866 on an ETH short held for 1 minute.
Most of the whale’s profit came from BTC longs, which brought in about $28.2 million of the $29.75 million total.
“Meet this mysterious whale who has won almost all 15 trades, making a total profit of $29.75M!” Lookonchain posted.
However, 2 of the whale’s older positions are still losing money. A 10,000 ETH long shows a $1.9 million loss, while a 400 BTC long is down about $97,000.
After netting those losses against the new longs, all 4 open positions sit about $608,600 in profit.
Ethereum ETF Investors Head for the Exit as the Whale Piles In
The whale is betting on an asset that has swung sharply over the past week. ETH traded at $2,526.75 at press time, BeInCrypto Markets data showed.
That price leaves ETH down 0.99% over 24 hours and 6.39% over 7 days.
ETH dipped near $2,429 earlier on Tuesday as liquidations swept the market. The whale’s new entries, near $2,420, sit close to that level.
Meanwhile, US spot Ethereum exchange-traded funds (ETFs) have moved the other way. They have recorded 10 straight days of net outflows, according to SoSoValue data.
Withdrawals since September 29 total about $782.6 million. The streak began right after roughly $437 million in inflows during the week of September 22.
On the charts, analyst Ted Pillows flagged the level ETH needs to clear for a bigger move.
If ETH stalls below the $2,560 to $2,570 zone, the whale still has room. Its liquidation prices sit near $1,272 and $1,513, far below current levels.
The next test comes from US inflation data. The September Consumer Price Index (CPI) report lands on Wednesday.
Economists expect annual inflation to rise to 3.7% from 3.4%. A hotter print could pressure leveraged longs, while a softer one could support ETH’s rebound.
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