In the cryptocurrency market, the actions of major players have been making headlines lately, as much as price movements.
Bitcoin continues to hold above $76,000 despite the negative outcome of the Clarity Act vote and the Fed’s interest rate hike decision. While BTC is holding around $76,000, Ethereum moved in the $2,370-$2,430 range, and the initial reaction in major altcoins like XRP and Solana was limited.
While the fact that the Fed’s decision was largely priced in beforehand eased short-term pressure and volatility in altcoins reshaped investors’ risk appetite, transfers made by whale wallets are attracting attention.
According to Lookonchain, a cryptocurrency analysis platform, Chinese whale Garrett Jin withdrew 35,001 Ethereum (ZEC) worth $85 million from Binance and invested it in Hyperliquid. Garrett Jin currently holds a short position of 37,760 ZEC, worth approximately $51.5 million. Therefore, it is estimated that he will use this ETH purchase to sell ETH and support his ZEC short position.
Another giant whale traded in SYN today, which has gained over 100% in value. Accordingly, the whale with address “0x161C” opened a 4x long position with 3.25 million SYN ($588,000) on the Aster DEX and has currently earned an unrealized profit of $304,000. This represents a 207% return.
According to another on-chain data platform, Onchain Lens, a large HYPE investor sold $27.45 million worth of spot positions today while maintaining a $30 million short position. While reducing the size of their HYPE short position, the investor’s current spot position assets are approximately 343,640 HYPE, valued at around $28.11 million.
Another large whale opened a long position of 3,380 ZEC, worth approximately $4.56 million, on the Hyperliquid platform using 10x leverage.
Finally, Jiang Zhuoer, a well-known Chinese Bitcoin miner and founder of the BTC.top mining pool, stated that he has bought back all the BTC he previously sold. Believing that the current market buying momentum is strong, Zhuoer predicts that the Bitcoin price will rise to the $80,000 to $84,000 range.
*This is not investment advice.
