Ethereum News Today: HyperUnit's $55M Crypto Bets Defy $1.1B Liquidation Wave

Ethereum (ETH) plunged below $3,400 on November 4, 2025, marking its first negative year-to-date performance since the start of 2025, which saw it open near $3,353, according to a BeinCrypto report. The 7% daily drop—the steepest in months—erased all of ETH's gains for the year and triggered over $1.1 billion in crypto liquidations within 24 hours, according to Coinglass data. Over 303,000 traders were liquidated, with $287 million in long positions wiped out in a single hour, underscoring extreme leverage unwinds across exchanges. Bitcoin (BTC) also slid to an intraday low of $100,721, nearing its psychologically significant $100,000 support level last seen in June.

The selloff was driven by a combination of macroeconomic concerns and security incidents, according to an Economic Times report. U.S. Federal Reserve Chair Jerome Powell's hawkish remarks, which cast doubt on a December rate cut, exacerbated market jitters. Meanwhile, a $110 million DeFi hack on Ethereum's Balancer protocol and a $93 million loss on Stream Finance further eroded investor confidence. These events triggered a wave of forced selling, with altcoins like Solana and BNB also plummeting. The synchronized collapse pushed the broader crypto market cap down by $100 billion in a single day, as traders shifted to safer assets.

Amid the turmoil, a controversial crypto whale known as HyperUnit has been buying aggressively. The entity, which previously earned $200 million by predicting October's crash, opened $37 million in Bitcoin and $18 million in Ethereum long positions on Hyperliquid, according to a Live Bitcoin News report. This activity contrasts with the broader market's fear, as the Crypto Fear & Greed Index hit 21, its lowest since March 2025. Analysts remain divided: while some argue the $3,000 level could hold due to whale accumulation, others warn that Bitcoin's test of $106,600 support, as noted in a TradingView report, could determine whether the market stabilizes or faces further declines.

Bitcoin's trajectory is critical for the broader market. If it breaks below $100,000, it could trigger a cascade of stop-loss orders and deepen the bearish sentiment. Conversely, a rebound above $106,600 might signal a short-term bottom, particularly if institutional buyers continue to accumulate. For Ethereum, the $3,000 level represents a key psychological barrier; a sustained break could lead to a retest of its 2024 lows near $2,800.