Whale Who Profited $200M From October Crash Now Turns Bullish
A crypto whale known as “HyperUnit”, who made headlines for earning $200 million during the US–China tariff-driven market crash in October, has now shifted bullish—placing $55 million in long positions on Bitcoin (BTC) and Ethereum (ETH).
According to data from Arkham Intelligence, the positions include a $37 million Bitcoin long and an $18 million Ether long on the decentralized derivatives exchange Hyperliquid. The move signals renewed confidence in a potential rebound across the crypto market, which has struggled with volatility and investor fear since mid-October.
HyperUnit’s Bold Bet on Market Recovery
The trader, dubbed the “HyperUnit whale” by analysts, has accurately predicted three consecutive major market moves—including the October crash that wiped billions from global crypto capitalization. Arkham questioned whether this could be “the fourth correct call in a row.”
Blockchain records show HyperUnit has been active in the crypto market for over seven years, accumulating $850 million worth of Bitcoin during the 2018 bear market, holdings that later peaked above $10 billion in value.
Currently, Bitcoin trades around $106,598, while Ethereum hovers near $3,602. Both assets remain below their all-time highs—Bitcoin down 15.5% and Ethereum down 27.3%—creating what many see as a potential buy-the-dip opportunity.
Market Fear Persists, But On-Chain Data Suggests Optimism
The Crypto Fear & Greed Index stands at 42 (Fear), indicating cautious sentiment among investors. However, data from CryptoQuant shows that long-term holders have sold over 405,000 BTC between October 2 and November 2, suggesting partial profit-taking from early adopters.
“Many OG whales have a life to live,” said Bitwise CEO Hunter Horsley, explaining that even seasoned investors find it difficult to hold through steep drawdowns after massive gains. “It can be emotionally taxing to see a third of your wealth disappear, even temporarily,” he added.
Despite short-term selling, Santiment analytics reports a positive trend: there are 208,980 fewer BTC on exchanges compared to six months ago—an indicator of lower selling pressure.
“When Bitcoin supply moves off exchanges, the risk of further sell-offs diminishes,” Santiment analysts noted, hinting that the market bottom could be near.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.