Whale sweeps away $23 million in losses: betting on ETH reversal, deploying 40,000 tokens at a cost of $3,241 each

LiquidityWitch · 2026-01-08T02:50:13+00:00

A whale address, after closing a BTC long position with a loss of $3.8 million, immediately used 31.7 million USDC to purchase 10,000 ETH, demonstrating a strong bullish outlook on ETH. Its current ETH holdings have reached 40,000 coins, with a total value of approximately $127 million, reflecting its strategic positioning for the next market wave.

LiquidityWitch

2026-01-08 02:50:13

Abstract generation in progress

【BlockBeats】An interesting trading story is unfolding. The whale address that made $96.67 million by trading ETH in swings decided this morning on Hyperliquid to first cut losses on its BTC long position—though this stop-loss resulted in a $3.8 million loss, subsequent actions reveal this player’s true intentions.

After the stop-loss, it didn’t sit idle. Immediately, 31.7 million USDC was used to purchase 10,000 ETH in a single sweep via Wintermute OTC. What does this move indicate? At this moment, the total ETH holdings of this address have reached 40,000 ETH, with a total value of approximately $127 million, and an average cost basis of $3,241.

From the data, this whale is adjusting its stance. Although BTC suffered losses, its accumulation of ETH is vigorous, clearly preparing for the next wave of market movement.

ETH0,44%

BTC0,13%

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GasFeeBeggar

· 01-10 04:05

This move by the whales is really incredible. They cut their BTC stop-loss at $3.8 million and immediately shifted to pushing 31.7 million USDC into ETH. This is a clear declaration of their stance to the market.

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ClassicDumpster

· 01-09 05:55

Wow, this whale is betting on ETH turning around. Cutting losses on BTC and going all in on ETH—pretty bold.

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InscriptionGriller

· 01-08 03:20

This whale has a clear mind. They cut losses on BTC quickly and turn around to fully bet on ETH. This is the strategy of big players—willing to bet, willing to cut losses. Unlike us small investors who stubbornly hold onto losing positions, crying and begging for mercy.

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0xSoulless

· 01-08 03:19

Oh man, another whale throwing a tantrum. After selling BTC, they immediately buy ETH. Is this telling us it's time to scoop the bottom?

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BlockchainGriller