The latest news, summed up in a few points.
On-chain whale activity is pretty interesting. One veteran trader bought 50,000 $BTC at an average price of $20,000 during the last cycle, then gradually sold, making $2 billion. After lying low for more than a year, they’ve started buying again, picking up 3,009 $BTC . Put simply, this seasoned trader is re-entering the market, buying low and selling high. But whether to follow suit is another matter—you don’t know their cost basis. Meanwhile, one whale withdrew a total of 13,080 $ETH from Binance over six days, worth about $29.97 million. Large withdrawals are usually moved to self-custody, but only the whale knows what they’re planning.
On the technical side, analyst Ali Charts noted that BTC has traded in a range between $87,000 and $60,000 over the past year, with $73,000 as the midpoint. If it breaks below that level, the lower boundary near $60,000 is worth watching. ETH’s daily chart is already showing signs of a breakdown. In plain English, the midpoint of a trading range is like the fulcrum of a seesaw: if it can’t hold, price may look for support at the next level down.
In derivatives, market maker Wintermute has made a cumulative $222 million on Hyperliquid and currently holds $125.9 million in open positions, including $115.8 million in short positions. Market makers quote on both sides to earn the spread, so don’t copy their positions as directional signals.
On the macro and industry front, OpenAI’s CFO said the midterm election results haven’t significantly changed the company’s plans to go public in 2027. The connection between AI and crypto is something we’ll have to keep watching. In Brazil, Nubank and Mercado Pago suspended crypto deposits and withdrawals after issues with an external service provider. When a link in the chain of custodial platforms breaks, your coins may be stuck temporarily—that’s one practical reason to self-custody. Also, Iran’s navy said a rogue oil tanker struck a mine and caught fire in the eastern Strait of Hormuz. Don’t overlook the impact geopolitical disruptions can have on sentiment toward risk assets.
One last question: A whale is buying BTC again. Would you treat that as a signal or just noise? Let’s hear your thoughts.
On-chain whale activity is pretty interesting. One veteran trader bought 50,000 $BTC at an average price of $20,000 during the last cycle, then gradually sold, making $2 billion. After lying low for more than a year, they’ve started buying again, picking up 3,009 $BTC . Put simply, this seasoned trader is re-entering the market, buying low and selling high. But whether to follow suit is another matter—you don’t know their cost basis. Meanwhile, one whale withdrew a total of 13,080 $ETH from Binance over six days, worth about $29.97 million. Large withdrawals are usually moved to self-custody, but only the whale knows what they’re planning.
On the technical side, analyst Ali Charts noted that BTC has traded in a range between $87,000 and $60,000 over the past year, with $73,000 as the midpoint. If it breaks below that level, the lower boundary near $60,000 is worth watching. ETH’s daily chart is already showing signs of a breakdown. In plain English, the midpoint of a trading range is like the fulcrum of a seesaw: if it can’t hold, price may look for support at the next level down.
In derivatives, market maker Wintermute has made a cumulative $222 million on Hyperliquid and currently holds $125.9 million in open positions, including $115.8 million in short positions. Market makers quote on both sides to earn the spread, so don’t copy their positions as directional signals.
On the macro and industry front, OpenAI’s CFO said the midterm election results haven’t significantly changed the company’s plans to go public in 2027. The connection between AI and crypto is something we’ll have to keep watching. In Brazil, Nubank and Mercado Pago suspended crypto deposits and withdrawals after issues with an external service provider. When a link in the chain of custodial platforms breaks, your coins may be stuck temporarily—that’s one practical reason to self-custody. Also, Iran’s navy said a rogue oil tanker struck a mine and caught fire in the eastern Strait of Hormuz. Don’t overlook the impact geopolitical disruptions can have on sentiment toward risk assets.
One last question: A whale is buying BTC again. Would you treat that as a signal or just noise? Let’s hear your thoughts.