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Bitcoin Whale Opens $491 Million Ether Long Position
Source: CryptoNewsNet Original Title: Bitcoin whale opens $491 million Ether long position Original Link:
Overview
A Bitcoin whale identified as Bitcoin OG 1011short opened a $491 million long position in Ether, according to data tracked by Lookonchain.
Position Details
The whale’s current holdings include:
The trader also placed limit orders to add:
Market Implications
The size of the position has sparked speculation in crypto markets about potential insider knowledge or market expectations driving the bullish bet on Ethereum’s native token.
The whale’s total long position now exceeds $614 million. According to the latest update, he transferred 5,152 BTC worth approximately $477 million to a new wallet.
Market Performance
Over the past 24 hours, Ethereum’s price remained mostly flat, while Solana jumped nearly 6% and Bitcoin rose 2%.