Crypto Whales Trigger $1 Billion Liquidations Amid Geopolitical Tensions

Cryptocurrency onchain data revealed that whale wallets made some transactions in large amounts amid the busy agenda today. According to the data, the first crypto whale sold 2.69 million VIRTUAL tokens worth $3.5 million at an average price of $1.3 in his transactions today. At the time of writing, the VIRTUAL price is trading at $1.46.

On the other hand, we see a crypto whale closing a 25x long position for Ethereum on the decentralized crypto exchange Hyperliquid. The whale wallet made a profit of $1.27 million from this position. The latest information shows that this whale currently opened a 40x short position for Bitcoin. The whale wallet lost approximately $1 million from this position, which is still open. If the Bitcoin price reaches $104,390, it will be liquidated.

Ask Aime: What's behind the sudden surge in VIRTUAL token sales?

Another crypto whale was seen withdrawing 18,000 ETH worth $40.38 million from Binance today. With other withdrawals made recently, this whale now has 50,256 ETH worth $112 million and has currently lost $2.24 million.

In the midst of heightened market volatility, significant movements by crypto whales have been observed, with notable trades and their corresponding profit-loss ratios coming to light. One prominent whale, who recently made several withdrawals, now holds 50,256 ETH valued at approximately $112 million, but has incurred a loss of $2.24 million. This whale's actions underscore the strategic maneuvering of large investors in response to market fluctuations.

The recent geopolitical tensions, particularly the escalation of conflict in the Middle East, have had a ripple effect on the crypto market. The asset class experienced a significant drop, with Bitcoin falling below $100,000 for the first time since May. This decline was attributed to macroeconomic uncertainties and the potential closure of the Strait of Hormuz, a critical oil supply route. However, the market quickly rebounded, with Bitcoin rising back to around $101,500. Analysts suggest that the long/short ratio, currently balanced at 49.28%/50.72% in favor of the shorts, indicates that some original whales are selling, while corporate treasuries and ETFs are absorbing the excess supply.

Another significant development involves the whale AguilaTrades, who made a substantial profit of $112,000 from a short position. This move highlights the opportunistic strategies employed by large investors during periods of high volatility. Additionally, whales have placed $100 million in ETH bets, further fueling the market's volatility amidst geopolitical tensions.

The crypto market's reaction to these geopolitical events has been dramatic, with approximately 240,000 traders liquidated in a 24-hour period, resulting in total liquidations exceeding $1 billion. This liquidation wave underscores the market's sensitivity to external shocks and the significant impact of large-scale trades by whales.

In summary, the recent high volatility in the crypto market has led to strategic trades by whales, resulting in both profits and losses. The market's reaction to geopolitical tensions and the subsequent liquidations highlight the need for caution and strategic planning in navigating the volatile crypto landscape.