Article Highlights

• Crypto whale invests $55 million in Bitcoin and Ethereum.
• The whale profited $200 million from the previous market crash.
• Data suggests long-term holders are selling some of their holdings.
• Analysts believe the bottom may be near.

Details of the New Bet

It appears that a major investor in the cryptocurrency world, referred to as the "Hyperunit whale," sees a new opportunity in the market. After reaping substantial profits by predicting the market downturn last October, they are now placing a significant bet on the prices of Bitcoin and Ethereum rising. The analytics platform Arkham revealed this move, noting that the whale invested $37 million in Bitcoin and $18 million in Ethereum on the Hyperliquid platform.

A History of Success

This is not the investor's first successful bet. The "Hyperunit whale" has demonstrated skill in reading the market in the past, generating significant profits through short-selling operations. According to Arkham, the question now is: "Will they get it right for the fourth time in a row?" It's worth noting that this whale has been active in the market for years, purchasing $850 million worth of Bitcoin during the 2018 bear market.

Are Long-Term Holders Selling?

Despite this large bet, some data indicates that other long-term investors may be reducing their holdings. Bitwise CEO Hunter Horsley stated that some "original whales" may find it difficult to stay in the market after realizing significant gains. He added that seeing a large portion of their wealth evaporate in a bear market can be emotionally taxing.

The Bottom May Be Near

However, some analysts believe that we may be approaching the end of the current correction. Data from Santiment indicates that there are fewer Bitcoins on exchanges compared to previous months, which may limit the risk of further sell-offs.

In Conclusion

It remains to be seen whether the "Hyperunit whale's" bet will succeed again. However, this move shows that some investors still believe in the long-term potential of Bitcoin and Ethereum.