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A crypto-whale opened a long Bitcoin position of $137 million using a 40x leverage.
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Binance’s XRP futures saw a surge of long positions with 71% of traders betting for the upside.
- The market sentiment for Bitcoin, XRP and Ethereum is increasing bullish.
A crypto whale opened a massive long position of $136.91 Million on Bitcoin with 40x leverage. This sparked speculation in the crypto community. The trader opened the position at $96,629 and entered it with a liquidation of $87,638. The position is equal to 1,420 BTC.
This high-risk move shows a deep-seated belief in Bitcoin’s short term upside. The position was showing an unrealized loss $244,800 at the time of the last update.
The trader also paid over $26,000 in fees to fund his account, indicating that it was a calculated move to target an anticipated liquidity surge. Crypto analyst Cedric beau said, “That kind leverage comes from someone confident that the next liquidity surge is not weeks away.”
This extreme leverage of 40x occurs when Bitcoin attempts a reclaim $100K, reigniting speculation about its long-term potential. Crypto trader Peter Brandt believes that Bitcoin could reach between $100K and $150K in August, reinforcing a bullish mood.
Related:TOKEN2049 : Arthur Hayes Makes Case for $1,000,000 Bitcoin Price by 2028
The whale’s massive leverage also suggests that he is confident in bullish setups, particularly for XRP and altcoins. Traders have also mirrored the whale’s confidence in opening significant long positions on other assets.
Sentiment Surges for XRP Futures
Crypto analyst Ali Martinez argues that Binance Futures traders currently hold long positions of XRP at 71.54%.
According to the analyst the long/short is at a healthy 2.51, reflecting a general optimism among traders. XRP’s futures market, which is dominated by retail traders, appears to be responding in a similar way to Bitcoin’s high leverage move.
Bullish Sentiment on Ethereum
A similar setup can also be seen for Ethereum. Last week, ETH saw over $380 in exchange outflows due to rising self-custody and tightening of supply.
According to CryptoQuant, a 3% increase was observed in large holders from August 2024 onwards, reversing an ongoing decline. Analyst Darkost called this’smart-money’ accumulation, supported both by stable active address numbers as well as a positive change in Net Taker volume.
Related$380M in ETH Exchange Outflows Suggestions Supply Squeeze As Bulls Rebuild
This alignment between Bitcoin, XRP and Ethereum indicates a common expectation of a favorable macro-movement in crypto markets. Together, the whales’ massive BTC positions and the rising bullish sentiment of XRP paint a portrait of growing confidence.
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