Crypto Whale Who Called October Crash Opens Up $55M Bitcoin and Ether Longs
Trader flips long as fear grips crypto and supply drains from exchanges
The crypto whale who reportedly earned $200 million during last month’s US–China tariff shock is back on the long side. Blockchain analytics firm Arkham flagged fresh positions totaling $55 million: a $37 million Bitcoin long and an $18 million Ether long on decentralized derivatives exchange Hyperliquid. The trader, nicknamed the Hyperunit whale, first drew attention after correctly positioning for the October 10 sell-off and has since booked two more profitable shorts, prompting speculation they could make it four in a row.
On-chain history suggests this whale has been active for at least seven years, accumulating roughly $850 million of Bitcoin during the 2018 bear market and holding until the trove swelled to about $10 billion. The pivot arrives with Bitcoin near $106,598 and Ether around $3,602 — roughly 15.5% and 27.3% below their record highs, respectively. Market sentiment remains fragile, with the Crypto Fear and Greed Index at 42, in fear territory.
Selling by early adopters has added pressure. Bitwise CEO Hunter Horsley said long-time holders face real-life considerations after 100x–1000x gains and that watching hundreds of millions swing in a downturn can be taxing, even if many still intend to keep most of their coins. Data from CryptoQuant indicates long-term holders offloaded about 405,000 BTC between October 2 and November 2.
Yet bottom-watchers see constructive signs. Santiment reports around 208,980 fewer BTC on exchanges than six months ago, a trend that historically reduces the risk of forced sell-offs. With sentiment muted, exchange balances shrinking, and a high-profile whale turning bullish, the next decisive move may hinge on whether fear lingers or sidelined conviction returns. For now, the market is watching the Hyperunit whale’s $55 million bet as a potential cue for November’s direction.
