Bitcoin News Today: Single Trader's $64M Bet Defies Crypto's $1.2T Liquidation Frenzy

The crypto market is undergoing a dramatic reset as $1.2 trillion in value has evaporated since October, driven by extreme leverage unwinding and heightened risk aversion. CoinGlass data shows $1.73 billion in liquidations on November 5 alone, with long positions accounting for $1.32 billion of the losses, according to an FXStreet report. This follows a broader selloff in which Bitcoin (BTC) and Ethereum (ETH) both dropped over 3% in a single day, triggering cascading margin calls across exchanges, as noted in another FXStreet update.

Amid the chaos, a single trader made a bold $64.7 million leveraged long bet on Hyperliquid, opening positions in Bitcoin, Ethereum, Solana, and Uniswap. The trader, identified by wallet address 0x9263..., closed four profitable short positions the prior day and shifted to aggressive long exposure with 4.17x leverage, according to Yahoo Finance. This move contrasted sharply with broader market sentiment, as the CNN Fear & Greed Index hit 21—its lowest level since the 2022 bear market—highlighting extreme investor anxiety (the Yahoo article also noted the index drop).

The liquidation frenzy was exacerbated by rapid price drops: BTC fell from $108,000 to $105,000, while ETH plummeted from $3,700 to $3,500 within an hour, the FXStreet report added.

The largest single liquidation, a $33.9 million ETH position on HTX, underscored the scale of forced selling, and a prominent trader with a previously 100% win rate, 0xc2a3, saw losses flip to -$17.6 million on Hyperliquid, per the same FXStreet coverage.

Regulatory scrutiny is intensifying as European authorities dismantle a €600 million crypto fraud network, arresting nine individuals linked to fake investment platforms. The scheme, which operated across Cyprus, Spain, and Germany, used social media ads and fabricated celebrity endorsements to lure victims, according to a VarIndia report. Separately, Switzerland's AMINA Bank secured a MiCA-compliant license to expand crypto services across the EU, signaling growing institutional confidence in regulated digital asset markets, as reported by Coindoo.

Institutional demand remains a mixed signal. While Bitcoin's realized cap surged $8 billion to $1.1 trillion, driven by treasury firms and ETFs, inflows have slowed recently, per CoinGlass. Solana (SOL) saw $9.7 million in ETF inflows for its seventh consecutive day, yet stablecoin liquidity on the network fell 8.16% in a week, raising concerns about reduced trading activity, according to CoinCentral. Robinhood's Q3 results highlighted renewed retail interest, with crypto trading revenues tripling to $268 million, as covered by Coinpedia.

Despite the turmoil, some market participants remain optimistic. BlackRock's Maxwell Stein predicted a "trillion-scale crypto wave" at Ripple Swell 2025, while Evernorth expanded its XRP holdings to $1 billion (covered in the Coinpedia update). However, on-chain metrics suggest caution: Bitcoin's 50-day EMA approaches a bearish crossover with the 100-day EMA, and the RSI hovers near oversold levels, observations noted in the FXStreet update.

The path forward hinges on regulatory clarity and macroeconomic catalysts. The Federal Reserve's potential rate cuts in Q4 and renewed ETF inflows could propel BTC toward $140,000, analysts say, according to CoinGlass. Yet with over $45 billion in Bitcoin dumped by whales in recent weeks (reported by Coinpedia), and stablecoin outflows persisting, the market remains vulnerable to further shocks.