2025-12-26 20:20:49

Recently, the cryptocurrency market has experienced dramatic fluctuations. Bitcoin has been repeatedly tugged back and forth around the $100,000 mark, with an unseen capital covert war behind the scenes. Market volatility has soared, hiding a chain reaction of whale repositioning, institutional quietly withdrawing, and leveraged longs being collectively liquidated.

Rebounding to $104,000, only to be pushed back down to $102,000—this has probably been the common experience for every Bitcoin holder over the past month. Since the all-time high of $126,000, Bitcoin has not calmed down, ultimately falling through the psychological $100,000 barrier and even dipping to $93,778.6. This round has wiped out over 30% of this year's gains. The Crypto Fear & Greed Index has also fallen to 20, hitting a near-half-year low.

What is hidden behind this $100,000 defense battle? On-chain data gives us the answer.

A whale holding $11 billion worth of Bitcoin has recently been engaged in a major "transfer." This veteran player active in the crypto space since 2011 sold 22,769 Bitcoins (worth about $2.59 billion) in recent months, then turned around and poured the money into Ethereum, buying 472,920 spot ETH at once, and also opened a $577 million Ethereum perpetual long position on a decentralized exchange.

The most telling detail is the timing of this whale's moves. Just 30 minutes before Trump announced a 100% tariff on Chinese imports, the whale had already opened positions exceeding $1.1 billion each in Bitcoin and Ethereum. From this operation, it’s clear that institutional capital movements are quietly changing market expectations.

BTC-0.1%

ETH0.32%

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RealYieldWizard

· 2h ago

Whales are playing the transfer game, while retail investors are still trapped... This is the true picture of the crypto world. --- The veteran with 11 billion assets is shifting to Ethereum. What does this indicate? BTC might really have peaked. --- He opened a position 30 minutes before the Trump tariff news broke. The information gap is incredible... When will retail investors finally get a chance to profit? --- The panic index is at 20. Is this really a signal to buy the dip? Or does it mean we still need to see further declines? --- Fallen from 126,000 to 93,000, with a 30% loss in this year's gains. This move was brutal. --- Institutions are quietly withdrawing. What should we retail investors do? Keep holding or admit defeat? --- Every rebound to 104,000 gets knocked down, clearly someone is dumping to control the price. --- Whales are aggressively buying Ethereum. Are they optimistic about Ethereum's prospects or trying to manipulate the market to trap retail investors? I can't figure it out. --- This round of liquidations might just be beginning. Leverage longs are concentrated and getting wiped out, so the price may still fall. --- Capital covert battles... We retail investors are just the ones being harvested.

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TideReceder

· 2h ago

The big transfer by the whale is truly impressive. Bitcoin is being hammered, Ethereum is being aggressively accumulated. This is demonstrating how to make quick money, right? The 100,000 defense battle is basically institutions cleaning out their positions, retail investors getting hit. It's old news. Opening a position 30 minutes before Trump's tariffs? That information gap is pretty significant. No wonder we're always the last to get on board. When the price fell below 93778, I knew someone was bottom fishing. Now it seems someone had already set up the game long ago. Ethereum spot plus perpetual longs? This old whale is betting on policy trends. Even if the bet is right, we can't make money.

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ponzi_poet