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Crypto Whale Boosts $103M in ETH and BTC Longs Amid ETF Outflows

Recent whale transactions show large BTC and ETH trades, monthly losses over $31M, and Tether’s purchase of 961 BTC worth $97.34M.

BTC
ETH
USDT

Summary

Hyperinsight reported on November 7 that whales engaged in substantial BTC and ETH long and short positions over the past 24 hours, with notable monthly losses exceeding $31 million. Tether added 961 BTC valued at $97.34 million to its holdings. This activity follows earlier whale moves to expand ETH and BTC longs totaling $103 million, amid ongoing spot ETF outflows and StakeWise DAO’s recovery of $20.7 million from the Balancer hack.

Terms & Concepts
  • Long Position: An investment strategy where traders buy assets expecting their value to increase over time.
  • StakeWise DAO: A decentralized autonomous organization that manages Ethereum staking services and related governance.
  • Spot ETF: An exchange-traded fund that directly holds the underlying asset, such as Bitcoin or Ethereum, rather than derivatives.