Cryptocurrency markets continue to recover following this week’s cooling US CPI data and rising expectations for Federal Reserve interest rate cuts.
Amid the pullback, whale traders have committed millions of dollars in position shifts and spot trades across Bitcoin (BTC), Ethereum (ETH), and several major altcoins. These actions highlight more positive sentiment and increased risk-taking among crypto whales.
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Smart money bets on Bitcoin and Ethereum rally
Whales are betting on further gains for major digital assets as optimism continues to grow across crypto markets. On-chain analytics platform Lookonchain reported that a smart money trader with a 100% win rate, identified as Wallet 0xc2a3, added more Ethereum and Bitcoin to his long positions.
The trader’s long positions include 1,483 BTC (worth $170.46 million) and 40,044 ETH (worth $167.35 million).
“As the market recovers, his total profits have reached nearly $30 million!” Lookunchain added.
Wallet 0xb9fe, another crypto whale that took a 25x leveraged long position in ETH after the October 11 flash crash, has reportedly started placing profit-taking orders. Nevertheless, traders continue to hold 15,689.44 ETH in open long positions, demonstrating continued confidence in the ongoing market recovery.
Additionally, crypto whale 0xC50a opened a 40x long position on BTC, a 10x long position on HYPE, and later added a 25x long position on ETH. His current position represents an unrealized gain of approximately $2.1 million.
Meanwhile, on-chain data from Onchain Lens reveals that another whale holding a 5x long position in HYPE has a floating profit of approximately $9.5 million.
“The whale also holds small long positions in PURR, 0G, XPL, and 2Z, with an overall profit of $11.47 million,” the post reads.
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Cryptocurrency spot market heats up due to increase in whales
Beyond derivatives, spot activity surged across major digital assets. Ethereum’s second-largest corporate holder, Sharplink Gaming, resumed accumulation a month later. The company purchased 19,271 ETH worth approximately $78.3 million.
Another whale made a strategic rotation from Solana (SOL) to Ethereum. Lookonchain highlighted that a week ago, this trader offloaded 99,979 SOL for approximately $18.5 million and subsequently purchased 4,532 ETH at an average price of $4,084.
In another large transaction, Richard Heart moved 30,066 ETH worth $125.09 million into a newly created wallet, including 29,804 ETH transferred through Tornado Cash.
Bitcoin whales have also begun to move. One address accumulated 3,195 BTC over the weekend. This represents a purchase worth approximately $356.6 million.
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Additionally, 2 new wallets were drawn 820 BTC worth $94.32 million Binance and OKX. Strategy Chairman Michael Saylor also hinted at additional Bitcoin purchases.
Among altcoins, the new wallet has withdrawn more than 280,000 Chainlink (LINK) worth about $5 million from Binance. Finally, 15.1 million Dogecoin (DOGE) worth approximately $2.95 million was removed from another address that had been inactive for nearly a year.
“Whale also sold 7,473 DOGE from his old holdings for 1,450 USDT. He now holds 15.19 million DOGE, worth $12.96 million,” OnChain Lens wrote.
The coming days will test the market’s resilience. Whale traders have resurfaced with high conviction and large positions, demonstrating renewed confidence, but the return of volatility also raises stakes.
