A Whale with 25x Leverage Enters Long Position for 93.08 BTC

A whale has taken a highly leveraged long position in Bitcoin, purchasing 93.08 BTC with 25x leverage at an average price of $96,391.2. The position currently holds a small unrealized profit of $10,000. This whale's activity is unusual due to its aggressive leverage strategy.

On-chain data shows that Bitcoin whales have been cautious in recent months. Large Bitcoin holders are reducing their holdings, with the 1K–10K BTC address category down 220,000 BTC year-over-year. This decline marks the fastest reduction since early 2023.

Despite the whale's aggressive move, broader institutional activity in Bitcoin remains uneven. Spot Bitcoin ETFs recorded $681 million in net outflows last week, signaling ongoing caution among institutional investors.

Why Did the Whale Take a 25x Leveraged Position?

The whale's leveraged position suggests confidence in Bitcoin's near-term price movement. The average entry price of $96,391.2 is above the current market price, indicating the whale believes Bitcoin will rebound. This is unusual during a period of broader selling and outflows.

Such high-leverage positions are typically associated with aggressive traders or those expecting sharp price swings. The whale's strategy contrasts with the cautious approach of many institutional investors and large Bitcoin holders.

Bitcoin has shown some institutional demand in recent weeks. Strategy (MSTR) spent $1.25 billion to purchase 13,627 BTC, pushing its total holdings to 687,410 BTC. This purchase coincided with a 6.7% price rise in Bitcoin, reinforcing the link between institutional buying and price movement.

Despite this, the overall market remains uncertain. The BTC exchange whale ratio rose to 0.504, a level often associated with increased selling pressure. This indicates that many large Bitcoin holders remain cautious.

What Are Analysts Monitoring Next?

Technical indicators suggest Bitcoin faces key support and resistance levels. Bitcoin is currently trading near $90,000 and has fallen below its 50-week moving average, a bearish sign in past cycles. A break below $87,200 could lead to further declines.

Analysts are also watching exchange inflows and ETF activity. Binance accounted for 71% of stablecoin deposits in recent days. This activity may reflect whale movements and could signal further selling pressure.

Bitcoin's price action remains closely tied to institutional and whale behavior. While some large players are accumulating, many are reducing holdings or moving funds to exchanges. This mixed activity creates uncertainty for traders and investors.