A Whale Sells 1323 ETH, Holding for Two Months, and Loses $1.28 Million

On April 3rd, Binance founder CZ took to social media to note that the Chinese edition of his new book is titled "Binance Life"—he couldn’t come up with a better name. ### Key adjustments for American English habits: 1. Added preposition **On** before the date (standard in U.S. English for time expressions). 2. Replaced "posted on social media" with **took to social media** (a more natural, active phrase for sharing content online). 3. Swapped "version" for **edition** (specific to book printings/translations, more precise). 4. Used **couldn’t come up with** instead of "couldn’t find" (common phrasing for "thinking of an idea/title"). 5. Used an em dash (—) for a smooth, conversational pause (typical in casual/concise U.S. media). The rewrite is concise, conversational, and aligns with how American outlets frame short news updates.

April 3rd The market’s key tension has shifted further—from just war risks to a structural impasse of “stubborn inflation + rigid policy stance.” No relief is in sight on the energy front: Russian exports are disrupted, OPEC+ is still weighing potential output hikes, the U.S. has not signaled tapering talks, and uncertainty around passage through the Strait of Hormuz remains persistently high. All this keeps oil and diesel prices elevated. Meanwhile, tariffs (on steel, aluminum, copper) and potential drug tariffs are broadening. Cost pressures are spreading beyond energy to a wider manufacturing and consumer goods system, and global supply chain strains aren’t easing—they’re worsening. On the policy front, liquidity support is now clearly off the table. Top Fed officials have explicitly signaled they’re leaning toward holding steady, tweaking liquidity structure via regulatory tools instead of rate cuts. The IMF went further, noting almost no room for rate cuts over the nex

On April 3rd, per data from Greeks.live: - 28,000 Bitcoin (BTC) options are expiring today. The put-call ratio stands at 0.54, the maximum pain point is $68,000, and the notional value totals $1.8 billion. - Additionally, 156,000 Ethereum (ETH) options are expiring today. Their put-call ratio is 0.73, the maximum pain point is $2,075, and the notional value is $320 million. Greeks.live analyst Adam noted that today marks the first weekly expiration following the quarterly expiry. Bitcoin options’ market share has hit a new high, clearly exceeding 80%. In terms of maturity, the most widely held options right now are for late April and late June—each around 23%. Ethereum’s options are more concentrated, with the largest share (roughly 30%) in June contracts, pointing to stronger trading activity in Bitcoin options. The market remains relatively weak: a minor rebound is quickly followed by a drop back to $66,000. Crypto trading activity is still muted, and we’re seeing typical b

On April 3rd, HyperInsight monitoring (via its Telegram channel at https://t.me/HyperInsight) reported that amid ongoing fallout from the Drift theft incident—coupled with Jupiter’s official statement that the platform was unaffected by the event—some funds may have flowed out via Jupiter. This triggered a temporary surge in trading volume, pushing JUP up 3.1% with its high briefly topping $0.16. During this period, a whale with an address starting with 0x8b0 on Hyperliquid fully closed out its JUP short position in half an hour, incurring a loss of approximately $33,700 at a liquidation price of $0.1625. The position had a notional value of $1.22 million prior to liquidation, making it the platform’s largest short-position whale.

On April 3rd, CryptoQuant analyst Darkfost noted that Bitcoin’s current profit supply stands at roughly 11.2 million coins, while its loss supply is around 8.2 million—levels approaching typical bear market ranges. By comparison, at the 2022 bear market low, profit supply was 9 million coins and loss supply hit ~10.6 million. Darkfost argues this signals the market is entering a "significantly undervalued state," with a potential bottom near. However, Bitrue research director Andri Fauzan Adziima contends the data reflects "rising market pressure, not immediate undervaluation." A true bottom, he says, would require deeper losses: e.g., loss supply exceeding 50% of total circulating supply and profit supply dropping below 45%. Currently, Bitcoin is down ~52% from its all-time high—far less than the 77%-84% drawdowns seen in prior bear markets. Additionally, analyst Timothy Peterson points out that a stronger U.S. dollar (the U.S. Dollar Index has climbed ~5% in two months) and

April 3: Drift announced via official social media that its team has identified key details about those involved in the security breach. We’re currently sending an on-chain message to the ETH wallet holding the stolen funds and are open to communication. Please reach out via Blockscan Chat.