4E: BTC Thanksgiving Giant Whale Showdown, Solana ETF Ends Consecutive Net Inflows

According to 4E observations, a rare long and short whale counterpart appeared in the BTC market during Thanksgiving. Lookonchain monitoring shows that whale 0x0ddf9 opened a 3x BTC short position at $89,765.6, with a scale of $91 million (1,000 BTC), currently facing an unrealized loss of about $1.16 million; meanwhile, new wallet 0x2c26 opened a 20x long position at $90,278.7, with a scale of $51.4 million (563.68 BTC), currently facing an unrealized gain of about $524,000. The high-leverage long and short hedging sets the stage for volatility during the holiday period.

The on-chain funding situation remains active. OnchainLens shows that Bitmine purchased 14,618 ETH from BitGo, with a total value of $44.34 million, continuing the trend of institutional asset allocation leaning towards ETH. The BTC reserve side has also strengthened—data indicates that the top 100 listed treasury holdings collectively hold 1,058,581 BTC, with 9 increasing their holdings and only 1 reducing them in the past 7 days, indicating that long-term funds are still steadily accumulating.

On the investment side, structural differentiation has emerged. According to SolanaFloor monitoring, the Solana ETF ended 22 consecutive days of net inflow, with a net outflow of $8.2 million yesterday for the first time; among them, 21Shares saw significant outflows, while Bitwise still had a net inflow of $13.3 million. Signs of rotation in mainline funds have strengthened, and investors' short-term risk appetite remains in a state of repeated contention.

4E reminds investors: the increase in BTC whale counterpart positions intensifies short-term volatility, and the ETF funding structure and stablecoin regulatory progress will become key observation points for sentiment adjustment in the future. Prioritize stable positions; rhythm is more important than direction.