Bitcoin News Today: Whale's High-Stakes Long Bet Defies Post-Liquidation Market Jitters

A whale identified by the address 0x960 has initiated a significant long position in Bitcoin (BTC) and Ethereum (ETH), with a combined notional value exceeding $37 million. According to on-chain analytics from a LookOnChain feed, the whale opened a 15x leveraged ETH position at an average price of $4,248, amounting to $15.56 million in nominal value, while simultaneously increasing the leverage on its BTC position to 15x from 10x, with a total exposure of $21.46 million. The liquidation thresholds for these positions are set at $10,500 for ETH and $3,705 for BTC, reflecting the high-risk, high-reward strategy employed by the whale.

The whale's actions come amid mixed signals in the broader crypto market. On October 23, spot Bitcoin ETFs attracted $90.60 million in inflows, with Fidelity (FBTC) and BlackRock (IBIT) leading the gains, according to a TradingView report. In contrast, Ethereum ETFs faced $93.60 million in outflows, underscoring diverging investor sentiment between the two leading cryptocurrencies. Bitcoin's price stood at $111,382 as of October 23, while Ethereum traded at $3,932, both showing modest 24-hour gains.

The whale's current bullish stance contrasts with recent market turbulence. A $19 billion liquidation event in late October 2025, triggered by renewed US-China trade tensions and exacerbated by whale-driven shorting, saw Bitcoin plunge from $125,000 to $104,000, according to an OKX article. During that period, a single whale profited $200 million by shorting BTC and ETH, highlighting the market's susceptibility to large-scale manipulation. The recent shift to long positions suggests a recalibration of risk appetite, particularly as the US government's shutdown enters its 25th day, with 79% of traders expecting it to persist until November 5.

The 0x960 whale's strategy is further complicated by its recent history. Just 12 hours prior to its long positions, the address's BTC short position was liquidated due to a stop-loss, according to the LookOnChain feed. Meanwhile, other whales exhibit varying outcomes: a 13x leveraged BTC long position is generating $8.09 million in unrealized gains, while another whale faces a $5.52 million loss on a BTC short. These divergent strategies underscore the crypto market's volatility and the high-stakes nature of leveraged trading.

Market observers note that the whale's actions could influence price dynamics. If Bitcoin breaks $118,000, mainstream CEXs could face $945 million in short liquidations, while a drop below $113,000 might trigger $964 million in long liquidations, according to the LookOnChain feed. The 0x960 whale's positions, with liquidation triggers far from current prices, indicate confidence in sustained upward momentum, though the high leverage amplifies potential losses if the market reverses.