Bitcoin Whale Reenters ETH Market, Fires Off A $44-M Long

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Ah, the cryptocurrency world, where the truly brave-and utterly reckless-dare to tread. In a move that could only be described as bold, a well-known crypto trader, who goes by the rather ominous name “1011short,” has decided to make a grand reentrance into Ethereum. How? By converting a cool 10 million USDC into Hyperliquid, just for the thrill of opening a long position worth a staggering $44.15 million in ETH. What could possibly go wrong? 😏

Whale Makes A Daring Ethereum Bet

This trade involves a grand total of 15,000 ETH at an entry price of $2,945, though the current market price sits at a modest $2,896. So, naturally, the position is already down by about $38,000. But why not? The true beauty of leverage is that it amplifies both gains and losses, like a magnifying glass over a fiery sunbeam. The question is: Will the sun burn, or will it fizzle out? 🔥

The liquidation point is set at $2,326. That’s quite a margin of error, or as some traders would say, a “comfort zone” for market swings. But let’s not kid ourselves-this is high-risk, high-reward territory, and only time will reveal whether it’s a calculated gamble or an expensive lesson in humility. 🤷‍♂️

Bitcoin and Ethereum: A Mixed Bag of Sentiment

In the world of Bitcoin, we’ve seen a modest bounce to $89,000, up a meager 1.37% in the last 24 hours. Still, it remains a full 20% below its highs from last month. Meanwhile, some altcoins have followed suit and shown a bit of upward movement. Naturally, this caused a wave of liquidations that caught a few traders off guard. I suppose that’s the price of excitement in this fast-paced market. 🤑

This #BitcoinOG(1011short) is back!

He deposited 10M $USDC into #HyperLiquid 6 hours ago and opened a 5x long on 15,000 $ETH($44.15M)!

– Lookonchain (@lookonchain) November 25, 2025

Liquidations Surge As Prices Bounce

In the latest development, leveraged positions worth a jaw-dropping $337 million were liquidated in just one day. A total of 112,021 accounts wiped out, like traces of footprints in the sand, erased by the tide of volatility. Most of the liquidations came from shorts, with $233 million evaporating, while long positions were a more modest $104 million. I guess some people didn’t get the memo: this market can bite back hard. 🦈

By day’s end, Bitcoin and Ethereum were the main culprits, with $119 million in BTC and $73.34 million in ETH wiped out. Apparently, leverage is alive and well, and it’s not going anywhere, despite all those wild price swings. Here’s a thought: maybe there’s a lesson in here about living on the edge. Or not. 🤔

As for the market, it’s a delicate balance. The bigger the move, the more uncertain the trader becomes about when and how to act. A wise man once said, “The higher you climb, the harder you fall.” He probably wasn’t talking about crypto, but it works, doesn’t it? 😆

Institutional Accumulation Continues

And on the institutional side of things, Nasdaq-listed BitMine Immersion Technologies has been busy stocking up on ETH. Last week, it added 69,822 coins to its stash, bringing its total holdings to a hefty 3.63 million ETH-about 3% of the total circulating supply. They’re also sitting on 192 BTC, $38 million in Worldcoin, and a cool $800 million in cash. Not bad for a rainy day. ☔

Of course, the company also reported some unrealized losses of around $3.4 billion on its ETH holdings. But hey, who’s counting when you have that much? Some might call it “cautious optimism,” others might call it “we’ll see how it goes.” Either way, it’s not a boring time to be in crypto. 💼

A Clear Picture of Caution And Opportunity

As the bigger players scoop up more ETH, it’s clear that the mood in the market is a cocktail of caution and opportunity. Recent price rebounds have been less than forgiving to short traders, proving once again that volatility can show up out of nowhere. Traders now find themselves watching key levels, just waiting for a sign that could spark another round of drama. And, knowing crypto, there’s bound to be one. 🍿

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2025-11-27 11:57