Where Are Crypto Whales Moving Money as the Market Slides?
As crypto markets retreat, whales are actively rebalancing—locking in ETH profits, shifting long BTC positions, and placing bold leveraged bets, signaling a tense tug-of-war between caution and conviction.
The crypto market erased its weekend gains in early Asian trading hours on Monday, falling to $3.59 trillion despite easing global trade tensions.
Amid this, crypto whales moved hundreds of millions of dollars in Bitcoin (BTC), Ethereum (ETH), and other altcoins, signaling a mix of accumulation and profit-taking strategies among large holders.
Crypto Whales Rebalance Portfolios With Major Transactions
The two largest cryptocurrencies experienced significant whale activity, as reflected in on-chain data. Analyst EmberCN reported that a whale withdrew 20,021 ETH, valued at about $78.15 million, from Binance.
The same trader or institution had previously used $700 million USDC as collateral to borrow $262 million worth of ETH, likely to short the asset.
“When they shorted ETH two weeks ago, the price was $4,032. Now ETH is trading at $3,850, meaning the short position likely earned them around $12 million in profit,” the analyst added.
Another whale with a long ETH position on Aave sold 2,500 ETH, worth $9.67 million, to reduce leverage. The trader had bought 2,989 ETH at an average price of $4,197, incurring an estimated loss of $820,000 from the sale. They still hold 13,504.56 ETH as collateral.
Meanwhile, whales moved considerable amounts of Bitcoin to exchanges, marking a noticeable uptick in high-value transactions. A market player deposited 351 BTC into Binance, resulting in a profit of approximately $27.97 million.
Onchain Lens revealed that the whale had withdrawn 361 BTC, valued at $11.63 million, three to four years ago, and then redeposited the amount for $39.6 million. Additionally, a Bitcoin OG whale sent 500 BTC, valued at $55.28 million, to Kraken.
“In total, the OG has deposited 7,003 BTC, worth $781.81 million, into CEXs over the past 3 weeks,” OnChain Lens highlighted.
Besides BTC and ETH, other altcoins also attracted significant whale attention. Binance founder Changpeng Zhao revealed a personal purchase of $2 million in ASTER tokens on November 2. Separately, a whale pulled out 5.8 million ASTER, worth $5.58 million, from Binance.
“Over the past 6 days, it has withdrawn 6.8 million ASTER, worth $6.66 million, from Binance,” OnChain Lens noted.
Moreover, Lookonchain pointed out that three wallets bought 2.26 million GHOST tokens over the weekend. A Solana (SOL) whale, inactive for 10 months, purchased 1.12 million GHOST tokens, revealing a strong interest in the cryptocurrency.
What Are Whales Positioning for in the Derivatives Market?
In the derivatives market, major market players adjusted their positions, showing a mixed sentiment. A crypto whale with a 100% win rate increased its long exposure.
“Smart trader 0xc2a3, with a 100% win rate, keeps adding to his BTC, ETH, and SOL longs! Current positions: 39,000 $ETH ($151 million), 1,070 $BTC ($118 million), 569,050 $SOL ($105 million). He’s also placed limit orders to add 40,000 $SOL($7.36 million) longs at $184,” Lookonchain stated.
Moreover, trader 0x8d0E transferred 10 million in USDC to Hyperliquid and initiated a 20x leveraged long position on 140,366 SOL, valued at roughly $26.14 million.
Lastly, market participants took a more defensive stance on ASTER. Following CZ’s announcement of his personal purchase of the token, traders 0xbadb and 0x9eec increased their short positions in the asset.
“Both whales shorting ASTER are currently in profit —0x9eec9 is up $5.9 million, while 0xbadb is up $1.4 million,” Lookonchain posted.
These mixed strategies suggest whales are positioning for volatility ahead, balancing bullish leverage on majors with selective short bets on smaller tokens.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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