A Whale Opens 20x Leverage Long Position on BTC, Reaching $2.59M in Position Size

February 4th — Per monitoring by on-chain analyst Ai Auntie (@ai_9684xtpa), address 0x278…3a7f6 conducted its first transaction in 11 months, accumulating $7.58 million worth of XAUT. One hour ago, the address withdrew 1,500 XAUT from OKX at a withdrawal price of $5,055.15, marking its first foray into digital gold.

**February 4th** Per Hyperinsight monitoring data (via their Telegram channel @HyperInsight), the "Strategy Whale" address (0x94d3…) ramped up its ETH and SOL long positions over roughly 10 minutes, adding a total of **$13.045 million** in value. ### Key Moves (Around 15:20 UTC): - **ETH longs**: Rolled over existing positions and added 3,192.17 ETH (~$7.65 million). - **SOL longs**: Added 57,342.34 SOL (~$5.395 million). ### Post-Operation Positions: - ETH longs: Total value = **$65.9302 million**; Average entry = $2,270. - SOL longs: Total value = **$19.5303 million**; Average entry = $98.90. ### Context: This address gained attention in December when it built large short positions on major coins while BTC positions were being ramped up—at one point holding **over $1 billion** in BTC shorts on Hyperliquid, making it the platform’s largest BTC short holder at the time.

On February 4th, on-chain data analyst Wu Jintao reported that a whale/institution that has netted $98.95 million from scalping purchased another 750 cbBTC (valued at ~$55.95 million) today. During the sharp sell-off over the past few days, the entity has accumulated $318 million worth of crypto assets via dip-buying, including: - 83,392 ETH ($204 million) at an average price of $2,450 - 1,500 cbBTC ($113 million) at an average price of $75,820 It now holds 173,000 ETH ($406 million) and 1,500 cbBTC ($113 million), with an unrealized loss of $65.43 million. The average cost basis for ETH is $2,667, while the average entry price for cbBTC is $75,820.

February 4 On-chain analyst Murphy took to social media today, noting Bitcoin has plummeted from its $97k January 15 high to $73k by February 4—breaching the $80k psychological support quickly amid market panic. Key on-chain data: Over 610k BTC (88% of total outflows) left positions above $80k in 20 days, acting as a major selling pressure driver. But URPD on-chain data points to a critical structural shift: Selling pressure from long-term holders with profitable positions has weakened sharply (only 9.7% of the total decline), signaling these holders are highly reluctant to sell. Meanwhile, strong buying pressure has emerged in the $70k-$80k range: Net purchases of ~450k BTC, nearly double the absorption seen in the $80k-$90k range. This suggests capital is “buying the dip” with real funds to build layered support. Murphy’s take: This cycle differs from prior downturns—bulls have mounted sustained, structured defense; coin concentration is gradually shifting lower, not tr

As of Feb. 4, Coinglass data shows total crypto liquidations over the past 24 hours hit $704 million. Long positions accounted for $527 million of the total, while short positions made up $177 million. Globally, 161,559 traders were liquidated in the same 24-hour window. The largest single liquidation was an $8.403 million ETH-USDT position on the HTX platform.

**Bitcoin & Ethereum Funding Rates Update (Feb 4)** Per Coinglass data, Bitcoin briefly dipped below $73k early Feb 4 before rebounding above $76k. Funding rate trends show: - Bearish sentiment has eased from yesterday but remains dominant. - Bitcoin’s rates across exchanges flipped from negative to positive, though the bearish trend persists. - Ethereum’s rates are still negative on most platforms—shorts are paying longs to hold positions, signaling stronger bearishness for ETH. **BlockBeats Note**: Funding rates align perpetual contract prices with underlying assets (exchanges don’t charge this fee; it’s a transfer between long/short traders). - 0.01% = baseline rate. - Above 0.01% = generally bullish. - Below 0.005% = generally bearish.