Original｜Odaily Planet Daily (@OdailyChina)
Waking up from a deep sleep, I believe I'm not the only one doubting my own eyes.
Coinglass data shows that in the past 24 hours, the total amount of liquidations across the network reached $19.133 billion, affecting as many as 1,618,240 people. OKX market data indicated that BTC once dropped to $101,500; ETH fell to around $3,373; and SOL dropped to about $144. For more details on the grim state of spot prices, see “The Night of Terrifying Plunge: A Record $19.1 Billion Liquidation in a Single Day, Wealth in Frenzy”.
Although the prices of major cryptocurrencies have somewhat recovered, this is still a wealth feast for the bears. The biggest winners in this extreme market condition are undoubtedly certain suspected insider traders, a BTC OG, and a crypto whale who opened a nine-digit short position. Odaily Planet Daily will provide a brief analysis of the operations and possible identities of these insider whales in this article.
Crypto Whale Opens a Ten-Digit Short Position, Rakes in $200 Million in One Day
Perhaps no one expected such a massive correction after BTC reached a new high, except for some insiders and a few sharp-eyed crypto whales.
Bitcoin OG Whale Opens Huge Short Position Three Days in Advance, Operation Record Overview
A BTC OG whale with unrealized profits exceeding $70 million had its earliest trading operation traced back to August 20: According to LookonChain monitoring, since August 20, this trader/institution sold nearly 36,000 BTC on Hyperliquid and bought over 886,000 ETH, at which time the ETH/BTC exchange rate was 0.0406; in its other four wallets, it still holds over 49,000 BTC, valued at $5.43 billion.
On October 8, this whale sold 3,000 BTC for $363 million. Currently, among the three related addresses, two have been cleared; one address still holds:
Address list:
bc1pxeg2c8yy5gklex2z8qvmxlwgvf7kzhx07a68xek52kfl0s9dc20qjydsuu (cleared);
0x757f88e931ef4d57c23b306c5a6792fc0d16edb2 (Hyperliquid address, cleared);
0x4f9A37Bc2A4a2861682c0e9BE1F9417Df03CC27C (holds $426 million USDC).
On October 10, this whale began its “insider-style short selling performance” —
First, it deposited $80 million into Hyperliquid, opening a 6x short position of 3,477 BTC; additionally, it deposited $50 million USDC into Binance. Address: 0xb317D2BC2D3d2Df5Fa441B5bAE0AB9d8b07283ae;
Subsequently, it increased its short position to 3,600 BTC.
Yesterday afternoon, it targeted ETH for short selling, depositing $30 million into Hyperliquid to open a 12x short position of 76,242 ETH. On-chain address can be found here, and this address has been cleared.
On the evening of the 10th, this whale continued to increase its short position, which once reached around $1.1 billion, with the BTC short position valued at $752 million; the ETH short position valued at $353 million.
As Trump initiated another tariff war last night, causing the market to drop, this whale's short position turned profitable, with profits exceeding $27 million;
Today's latest news from Hypurrsan data shows that the whale who shorted BTC and ETH withdrew $60 million USDC back to Arbitrum, making a profit of $72.33 million in the past 24 hours.
In Extreme Market Conditions, Hyperliquid Emerges as a Winner, HLP Daily Profit Exceeds $40 Million
Additionally, according to on-chain analyst @mlmabc analysis, the whale's daily profit on Hyperliquid is approximately $190 million to $200 million; on the other hand, in this extreme market condition, Hyperliquid also took a share: HLP's daily profit reached $40 million; the annual interest rate soared to 190%; overall capital return reached 10-12%.
Hidden Identity of the Insider Whale: Possibly Related to Trend Research?
As for the identity behind this whale, there is currently no conclusion.
However, according to Lookonchain analysis, the Bitcoin OG who made a high-profile switch to Ethereum may be related to Trend Research under Yilihua. The evidence is that wallet 0x52d3 previously sent 0.1 ETH to this Bitcoin OG address as gas fees, and then deposited 1.31 million USDC into Trend Research's Binance deposit address.
Odaily Planet Daily will continue to follow market dynamics and more news about this crypto whale/institution.
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