Ethereum News Today: Whales Bet Big on BTC/ETH Recovery Despite Bearish Indicators

The crypto market's recent rebound, fueled by softer U.S. inflation data and anticipation of a Federal Reserve rate cut, has seen whale traders aggressively amplify their long positions in Bitcoin and Ethereum. On-chain analytics reveal a surge in high-stakes bets, with several top traders using leveraged positions and strategic accumulations to capitalize on the ongoing rally, according to a BeInCrypto report.

A notable example is wallet 0xc2a3, a trader with a 100% win rate, who has expanded his BTC and ETH holdings to 1,483 BTC ($170.46 million) and 40,044 ETH ($167.35 million), generating nearly $30 million in total profit. His actions underscore growing optimism among institutional-grade traders, who view the current market environment as a favorable setup for further gains, the report noted. Meanwhile, another whale, wallet 0xb9fe, has begun setting take-profit orders after maintaining a 25x leveraged ETH long position since the October 11 flash crash, yet still holds 15,689.44 ETH in open positions.

The bullish sentiment extends beyond BTC and ETH. Whale 0x71a0 has secured over $5 million in unrealized profits across ETH, SOL, PUMP, and FARTCOIN, with pre-set limit orders ranging from $4,300 to $1 for ETH and altcoins, the report noted. Similarly, wallet 0xC50a has deployed 40x leverage on BTC and 25x on ETH, while another whale with a 5x long in HYPE holds a $9.5 million floating profit. These moves highlight a broader shift toward risk-on strategies as traders bet on sustained recovery.

However, Bitcoin's price trajectory remains precarious. Derivatives data from Hyperliquid shows whales like 0x9553 and 0x6988 opening massive leveraged longs—$19.94 million in BTC and $18.71 million in ETH—according to a CoinPedia analysis. Technical indicators, including a bearish MACD crossover and declining RSI, suggest mounting pressure to break key support levels. Analysts warn that a close below $106,600 could trigger a cascade toward $104,000, though bulls defending the $107,200–$106,600 range might stabilize the market, the analysis added.

Volume patterns and whale accumulation trends, however, hint at potential stabilization. Declining sell pressure on lower timeframes and strategic rotations—such as a major whale shifting from SOL to ETH—indicate preparations for a rebound, the BeInCrypto report noted. If macroeconomic conditions improve and Fed rate-cut expectations solidify, Bitcoin could retest $114,000–$116,000 resistance by mid-November, the CoinPedia analysis suggested.

The coming weeks will test the market's resilience. Whales' aggressive positioning suggests they view the current pullback as a temporary correction rather than a structural downturn. For now, the balance between bearish momentum and smart money bets will shape Bitcoin's next move.