Crypto Whale Who Nailed October Crash Opens $55M Bitcoin and Ethereum Longs: Market Eyes Next Big Move
A legendary crypto whale, famed for pocketing $200 million during the violent October US-China tariff-led crash, is once again making headlines in crypto news circles by staking $55 million on a Bitcoin and Ethereum rebound. The trader, known as “HyperUnit,” is betting that the worst of the market correction may be over and that a new wave is set to lift digital assets, reaffirming the market’s faith in blockchain technology and sparking speculation among the crypto pur community.
HyperUnit Whale Bets on Crypto’s Recovery
According to fresh data from crypto analytics firm Arkham, HyperUnit entered a $37 million long on Bitcoin and an $18 million long on Ethereum through the decentralized derivatives platform Hyperliquid. These bold moves come right after the whale’s remarkable run: not only did HyperUnit call and cash in on the October meltdown, but reports also show a string of successful short trades that followed, raising the question, will this whale nail the bottom for the fourth time in a row?
HyperUnit’s backstory adds more weight to the conviction. The whale has been active for over seven years, famously buying $850 million in Bitcoin during the 2018 bear market and riding that position to a $10 billion fortune. Their reputation as a market-moving force in the blockchain space is the talk of the crypto pur forums.
Contrarian Bullishness Amid Market Fear
The jump back into longs is a strategic turnaround during a period of prevailing fear. As of writing, Bitcoin is down 15.5% from all-time highs (around $106,600), and Ethereum nearly 27.3% from its peak ($3,600 range). The Crypto Fear & Greed Index sits at 42 out of 100 (“Fear” zone), reflecting a shaken market.
Yet, some analytics and on-chain data support the first signs of a turning tide:
- Santiment notes that despite the recent drop, there are 208,980 fewer BTC on exchanges compared to six months ago, a classic bullish indicator suggesting supply is leaving exchanges not to be dumped, but held.
- CryptoQuant reports long-term holders offloaded over 400,000 BTC in October, contributing to the correction, but Bitwise CEO Hunter Horsley insists most whales still aren’t planning to sell out completely.
Whale Wisdom: Market Rotations and Emotional Challenges
Industry leaders like Bitwise point out the psychological challenge for crypto OGs holding through multiple market cycles. Watching portfolios swing between massive gains and volatility can push even toughest hodlers to take profits, especially after returning gains of 100x or more.
Still, whales like HyperUnit remain a bellwether for retail and institutional players watching for signs of the next cycle. Their history of calling major inflection points has led many in the blockchain technology and crypto pur communities to follow their trades for clues to potential bottoms or tops.
Could the Crypto Bottom Be Near?
Santiment’s analysts maintain that recent pain may have flushed out weak hands and that dwindling exchange reserves mean the worst of the selling may already be behind us. If so, HyperUnit’s highly public $55M bet could be a contrarian call that marks the next phase of crypto’s recovery, reminiscent of similar high-conviction whale bets preceding past bull runs.
Conclusion
As the crypto news world debates the longevity and timing of this whale’s winning streak, HyperUnit’s confidence in both Bitcoin and Ethereum’s comeback highlights the ever-evolving, high-stakes dance at the heart of blockchain technology. The next few weeks will reveal whether this bold bet sparks another bullish wave or simply tests the legendary whale’s luck.
