The largest liquidation day in crypto history behind the whale knife fight: the bears satisfied, leaving with their swords
Start the short-selling journey 3 days in advance, even crypto whales have different levels.Wenser, Odaily Planet Daily
Waking up, I believe I'm not the only one doubting my eyes.
Coinglass data shows that in the past 24 hours, the total amount of liquidations across the network reached $19.133 billion, affecting as many as 1,618,240 people. OKX market data indicates that BTC once dropped to $101,500; ETH fell to around $3,373; and SOL dipped to about $144. For more details on the grim spot prices, see “A Night of Terrifying Plunge: A Record $19.1 Billion Liquidated in One Day, Wealth in Crazy Motion”.
Although the prices of major cryptocurrencies have seen varying degrees of recovery, this is still a wealth feast for the bears. The biggest winners who profited immensely during this extreme market condition are undoubtedly some suspected insider traders, a certain BTC OG, and a crypto whale who opened a nine-digit short position. Odaily Planet Daily will provide a brief analysis of the operations and possible identities of these insider whales in this article.
Crypto Whale Opens a Ten-Digit Short Position, Raking in $200 Million in One Day
Perhaps no one expected such a massive correction in BTC price following its new high, except for some insiders and a few astute crypto whales.
Bitcoin OG Whale Opened Huge Short Position Three Days in Advance, Operation Record Overview
A BTC OG whale with a floating profit exceeding $70 million had its earliest trading operation traced back to August 20: According to LookonChain monitoring, since August 20, this trader/institution has sold nearly 36,000 BTC on Hyperliquid and bought over 886,000 ETH, when the ETH/BTC exchange rate was 0.0406; in its remaining four wallets, it still holds over 49,000 BTC, valued at $5.43 billion.
On October 8, this whale again sold 3,000 BTC, worth $363 million. Currently, of the three related addresses, two have been cleared; one address still holds.
Address list:
bc1pxeg2c8yy5gklex2z8qvmxlwgvf7kzhx07a68xek52kfl0s9dc20qjydsuu (cleared);
0x757f88e931ef4d57c23b306c5a6792fc0d16edb2 (Hyperliquid address, cleared);
0x4f9A37Bc2A4a2861682c0e9BE1F9417Df03CC27C (holds $426 million USDC).
On October 10, this whale began its "insider-style short selling performance"------
First, it deposited $80 million into Hyperliquid, opening a six-fold short position of 3,477 BTC; additionally, it deposited $50 million USDC into Binance. Address: 0xb317D2BC2D3d2Df5Fa441B5bAE0AB9d8b07283ae;
Subsequently, it increased its short position, raising the BTC short position to 3,600 BTC.
Yesterday afternoon, it targeted ETH for short selling, depositing $30 million into Hyperliquid to open a twelve-fold short position of 76,242 ETH. On-chain address can be found here, and this address has been cleared.
On the evening of the 10th, this whale continued to increase its short position, which once surged to around $1.1 billion, with the BTC short position valued at $752 million; the ETH short position valued at $353 million.
As former President Trump initiated a tariff war again last night, causing the market to drop, this whale's short position turned profitable, once earning over $27 million;
Today's latest news from Hypurrsan data shows that the whale who shorted BTC and ETH has withdrawn $60 million USDC back to Arbitrum, making a profit of $72.33 million in the past 24 hours.
In Extreme Market Conditions, Hyperliquid Becomes a Winner Again, HLP Daily Profit Exceeds $40 Million
Additionally, according to on-chain analyst @mlmabc analysis, this whale's daily profit on Hyperliquid is approximately $190 million to $200 million; on the other hand, in this extreme market condition, Hyperliquid also took a share: HLP's daily profit reached $40 million; annual interest rate soared to 190%; overall capital return reached 10-12%.
The Hidden Identity of the Insider Whale: Possibly Related to Trend Research?
As for the identity behind this whale, there is currently no conclusion.
However, according to Lookonchain analysis, the Bitcoin OG who publicly swapped for Ethereum may have a connection with Trend Research under Yilihua. The evidence is that wallet 0x52d3 previously sent 0.1 ETH as gas fees to this Bitcoin OG address, and then deposited 1.31 million USDC into Trend Research's Binance deposit address.
Risk warning
