10 #Bitcoin ETFs outflows 4,964 $BTC(-$458.3M) and 9 #Ethereum ETFs outflows 4,701 $ETH(-$15.21M) yesterday.

On May 3rd, per monitoring from HyperInsight, as Bitcoin (BTC) continued its rally and broke above $78,000, the BTC short position of the "pension-usdt.eth" whale exceeded $78 million—pushing its unrealized loss higher to roughly $10 million. The short was opened at an average price of $67,992, with a liquidation price of $100,667.6. It has been held since April 2nd (one month) with no trading activity in between. Additionally, the whale holds an ETH short position worth approximately $46 million, currently facing an unrealized loss of around $3.4 million.

May 3 — Wasabi Protocol issued a security incident update confirming users can now safely interact with the protocol’s smart contract to withdraw remaining funds. The project team noted they are working diligently behind the scenes to push forward with related follow-up work. However, since the incident remains under active investigation, they cannot disclose additional details at this time. They will share the latest developments with the community as soon as circumstances allow.

May 3rd — On-chain analyst Ai Auntie (@ai_9684xtpa) reports that two addresses tied to a single Dogecoin whale withdrew a total of 11.68 million DOGE between November and December 2024, at an average price of $0.415. After lying dormant for 18 months, the funds were transferred to a new, unconfirmed address one hour ago. The whale’s assets have lost $3.59 million in value over this period.

On May 3, CryptoQuant Head of Research Julio Moreno noted in a report: "Perpetual futures contract demand was the sole driver of Bitcoin’s price gains in April, while apparent spot demand continued to shrink. Historically, this pattern has emerged in bear markets—and uptrends tied to it often struggle to hold." Moreno added that the divergence between surging futures demand and fading spot demand is among the clearest on-chain signals, indicating the rally is far more speculative than rooted in structural growth. He emphasized the price jump is fueled primarily by leverage, not fresh Bitcoin capital inflows. Moreno also warned: "Historically, this type of structure lacks the underpinnings to sustain a price rally. When futures positions begin unwinding, a price pullback typically follows as a correction." CryptoQuant noted the current perpetual futures-driven demand structure mirrors that of the early 2022 bear market. While this doesn’t guarantee the same outcome now, the setup

As of May 3rd, Onchain Lens data shows a crypto whale closed its ETH short position over the past three days and instead opened a 2x leveraged long position on MEGA. The whale’s current unrealized loss from the trade has topped $840,000.

On May 3, according to Onchain Lens monitoring, Sky Mavis co-founder Rune has closed out short positions in WTI Crude (CL) futures, Brent oil, and the S&P 500 Index, incurring a total loss of over $735,000.