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Cryptocurrency whales seize over $700 million in profits during market correction

Cryptocurrency sector experiences a capital outflow of approximately $716 million due to whales' profitable transactions and strategic changes, with long-term prospects still appearing favorable.

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Cryptocurrency sector encounters a substantial $716 million worth of liquidations, as influential...
Cryptocurrency sector encounters a substantial $716 million worth of liquidations, as influential traders cash in and adjust tactics, yet the long-term prospects remain promising.

Cryptocurrency whales seize over $700 million in profits during market correction

How Crypto Big Shots Rode the Market Rollercoaster:

The crypto world just experienced a jaw-dropping ride, with whales taking charge and affecting the wallets of over 200,000 investors. In the past 24 hours, a whopping $716 million vanished in the blink of an eye due to mass liquidation.

These crypto whales, with their sharp eyes and quick wits, capitalized on the market's sudden drop. Filling their coffers by cashing out long positions in ETH and XRP, while simultaneously diving into short positions on BTC, ETH, and SOL. Their shrewd maneuvers echoed a cautious sense among big investors, hinting at forthcoming market turbulence.

Liquidation Madness Decimates Wallets

CoinGlass data showed that the crypto market was hit by a liquidation wave of $716 million, impacting over 210,000 investors on the wrong end of the bet. Roughly $582 million worth of long positions were liquidated, revealing an alarming number of incorrect, much-too-optimistic wagers.

As the dust settled, BTC dipped to $101,000, ETH plunged 4% to $2,400, and SOL lost 6% of its value, trading around $175. The frenzy can be traced back to the market overheating last week. Bitcoin surged beyond $100,000, ETH soared over 40% to $2,500, and the Fear & Greed Index shivered at 78, signaling insanity.

With major coins collapsing simultaneously, retail investors took a beating, while whales jumped on the chance to profit and adjust strategies.

Big Fish Make Big Moves

Lookonchain data uncovered one whale's lucrative moves. Closing 17,702 ETH and 9.83 million XRP long positions, pocketing an impressive $7.5 million in profits. Then, the whale went bold, filing a new long position on SOL with 13,871 SOL, but currently facing a $560,000 loss.

Remember the whale that lost $5.73 million on ETH in late February 2025? It bounced back, netting $4.71 million on ETH, demonstrating the resilience and smarts of these colossal investors.

Another whale, aptly named 'Hyperliquid 50x Address,' shifted strategies. This nimble whale reversed a short position and pocketed $1.18 million in profits. Feeling lucky, it quickly locked in the gains.

Meanwhile, another whale doubled down, depositing an additional 10 million USDC into Hyperliquid for more short positions on BTC, ETH, and SOL.

Turbulence, but the Sky Still Looks Bright

Although whales' moves caused short-term pain, the long-term look remains promising. Analyst Davinci Jeremie suggests, "A supply shock is brewing," while Merlijn The Trader confidently stated, "If this plays out, $500K isn't hopium, it's structure."

However, veteran analyst Michaël van de Poppe has a differing opinion, suggesting the altcoin bear market has ended due to Bitcoin's dominance peaking. "Strong bearish divergence on the weekly timeframe indicates that the Bitcoin dominance has peaked. The end of the bear market for alts," Michaël van de Poppe shared.

So, hang on tight. The ride ain't over yet!

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Remember to verify transactions independently and consult with a financial expert before making any investment decisions. The Trust Project guidelines govern BeInCrypto's commitment to unbiased, transparent reporting. In adherence to these guidelines, this article aims to provide accurate, timely information, but always consult a professional.

  1. The whales' manipulation of long and short positions led to a massive liquidation of $716 million, affecting more than 210,000 investors.
  2. CoinGlass data displays a liquidation wave that impacted various coins such as Bitcoin, Ethereum, and Solana, with their prices dropping significantly.
  3. Big investors, like the one who made a profit of $7.5 million by liquidating long positions on ETH and XRP, are employing shrewd strategies to capitalize on bear market conditions.
  4. Despite the turbulence caused by crypto whales, analysts such as Davinci Jeremie and Merlijn The Trader remain optimistic, believing in a promising long-term outlook for the crypto market.
  5. Meanwhile, some whales are changing their strategies to adapt to market conditions, either reversing short positions or depositing more funds for additional short positions.
  6. It's essential for investors to verify transactions independently, consult financial experts, and follow guidelines from trusted sources before making investment decisions in the volatile world of cryptocurrency and finance.

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