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Yesterday's Whale Trader Who Perfectly Shorted Before the Major Drop Goes Long on ETH with 2x Leverage, Holding a Position Worth $56 Million

53 minutes ago

Per LookOnChain monitoring, whale wallet **pension-usdt.eth** has made two notable ETH trades recently: - **Yesterday**: The whale took a 2x leveraged short position on ETH worth $18 million, then closed it for a $910,000 profit shortly after a sharp ETH price drop. - **Dec. 2**: The same whale switched to a long position, opening a 2x leveraged long on 20,000 ETH (valued at $56 million) with an entry average price of $2,825.9. ### Notes on American English adaptation: - Uses **bullet points** for readability (common in crypto/finance quick updates). - Replaces awkward phrasing like "doubled shorted" with standard "2x leveraged short position" (industry-standard terminology). - Adds commas for thousand separators (e.g., $2,825.9) and clear time framing (separate "Yesterday" / "Dec. 2" sections). - Keeps wallet address consistent (no unnecessary changes to on-chain identifiers). - Prioritizes brevity while retaining all key data (position size, leverage, value, profit, entry price).
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The WLFI team's relevant wallet has deposited 73.16 million WLFI to Binance, worth $11.11 million.

As of December 2nd, OnchainLens monitoring reveals a wallet linked to the WLFI team (DHf6...VM8m) deposited 73.16 million WLFI tokens into Binance 13 hours ago, with the deposit valued at $11.11 million.

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Bitcoin Savings App Bitstack Completes $15 Million Series A Funding Round, Led by 13books Capital

On December 2nd, French Bitcoin savings app Bitstack announced it has closed a $15 million Series A funding round, led by 13books Capital, with participation from YC, Serena, Plug and Play, and other existing shareholders. The new capital will fund European expansion and product upgrades, including the January 2026 launch of a Visa debit card with Bitcoin rewards (dubbed Stackback). Bitstack aims to become Europe’s leading Bitcoin savings platform.

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Opinion: Bitcoin hit a low of $55,000 in this cycle, and the " $35,000 bottom" theory is nonsense

Dec 2 – Crypto analyst @Sykodelic_ noted that claims Bitcoin could drop to $35k are total nonsense. For one, Bitcoin would need to have fully extended to retrace 75%—and it hasn’t in this cycle. The current market landscape mirrors 2019, not 2018 or 2021. Back in late 2019 (QT period), Bitcoin pulled back to the Bollinger Bands’ midline and found support there. That said, in a worst-case scenario (if this is a deep bear wave), Bitcoin’s maximum expected bottom could hit $55k if its monthly close dips below the midline.

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Suspected Ethena Labs Withdraws Another 25 Million ENA

Per LookOnChain monitoring, a suspected Ethena Labs wallet withdrew an additional 25 million ENA (valued at $6 million) from cryptocurrency exchange Bybit three hours ago on December 2. Since November 7, the same wallet has pulled a total of 405.15 million ENA (worth $96.8 million) from Bybit and Coinbase Prime.

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Viewpoint: Bitcoin is expected to remain within a range in the near future, with $75,000 being the bull-bear line.

**December 2nd Update** Derek Lim, Research Director at crypto market maker Caladan, noted Bitcoin may continue trading in a range and consolidating between $83,000 and $95,000. Experts, however, maintain Bitcoin is currently in a bull market correction—not a full bear market—because, unlike previous cycle peaks, “we haven’t seen widespread frenzy or speculative excess.” Analyst Tim Sun added Bitcoin is unlikely to see a strong uptrend before the end of 2025; the more realistic scenario is it “focuses on building a bottom.” “As long as expectations for the Fed’s 2026 loose policy aren’t fully dashed, this phase is more likely a bottoming consolidation than a new long-term bear market,” Sun said. “But if Bitcoin drops below $75,000, this prediction is invalid and could lead to a steeper drop.” *Source: Decrypt*

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Over the past 7 hours, two wallets bought 4.08M $EDEL($133K) in total.

Over the past 7 hours, two wallets bought 4.08M $EDEL($133K) in total. 0x6530 withdrew 62,460 $USDC from #Kraken to buy 2M $EDEL 6 hours ago. 0x3c05 withdrew 20.77 $ETH($58K) from #Binance to buy 2.08M $EDEL 7 hours ago.

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