Encryption Whale sold 7000 BTC in 3 weeks! 780 million dollars flow reveals market turning point.

In early Asian trading, the market size of Crypto Assets has dropped to $3.59 trillion, with Crypto Veterans adjusting large holdings of Bitcoin, Ether, and alts. One Crypto Veteran transferred over 7,000 Bitcoins to an exchange, valued at $781.81 million, possibly taking profits. High-value trades in ASTER, GHOST, and SOL indicate that Whales are seeking a balance between accumulation and defensive positioning.

Crypto Veterans sold 7,000 Bitcoin in 3 weeks, worth 780 million dollars

(Source: Arkham)

Crypto Whales are rebalancing their portfolios through large transactions. Whale trading activity has appeared on both major crypto platforms, and on-chain data confirms this. A market participant deposited 351 Bitcoins into Binance, making a profit of about $27.97 million. Onchain Lens revealed that a Bitcoin Whale withdrew 361 Bitcoins three to four years ago, worth $11.63 million, and then redeposited them for $39.6 million, showing a profit of about $27.97 million.

What’s even more shocking is that a Bitcoin OG whale sent 500 Bitcoins to a CEX, valued at $55.28 million. OnChain Lens pointed out: “In the past 3 weeks, OGs have deposited a total of 7,003 Bitcoins to CEX, worth $781.81 million.” Such a scale of sell-off is extremely rare in the behavior of crypto whales, as it occupies a significant proportion of short-term Bitcoin trading volume.

What does the transfer of 7,003 Bitcoins mean? At the current price of about 110,000 USD, this equates to a potential selling pressure of 770 million USD. If this OG chooses to sell these Bitcoins on an exchange, it will have a significant impact on the market. However, transferring to an exchange does not necessarily mean an immediate sale; it could also be for staking, lending, or other financial operations.

From the timeline perspective, the continuous transfer to the exchange over 3 weeks, rather than a one-time move, indicates that this Whale has adopted a strategy of staggered shipment. This operational method is more cautious, allowing for profit locking while reducing market impact. For OGs who have held Bitcoin for many years, the current price of $110,000 has already provided thousands or even tens of thousands of times in returns, making it completely reasonable to choose to take some profits.

Bitcoin Crypto Whale 3 Week Sell-off Data

Total Sell Volume: 7,003 BTC

Total Value: 7.8181 million USD

Maximum Single Transaction: 500 BTC transferred to CEX (55.28 million USD)

Selling Strategy: Gradual transfer to avoid a single impact.

Possible Motivation: Taking profits after years of holding, locking in thousands of times returns.

The impact of this large-scale sell-off on the market is twofold. In the short term, if these Bitcoins are indeed sold, it will increase selling pressure and may lower prices. But from another perspective, the profit-taking by OG Whales is also a sign of healthy development in a bull market, as it represents the exit of early investors, making room for new capital to enter.

Ethereum Long and Short Battle, 150 Million Dollar Hedging Layout

Ethereum market's crypto Whale activity is equally frequent. Analysis firm EmberCN reported that a Whale withdrew 20,021 ETH from Binance, worth approximately 78.15 million USD. The same trader or institution had previously used 700 million USDC as collateral to borrow 262 million USD worth of ETH, likely for the purpose of shorting the asset.

“Two weeks ago, when they shorted Ether, the price was $4,032. Now the trading price of Ether is $3,850, which means the short position could have brought them about $12 million in profit,” the analyst added. This large-scale shorting operation shows that some Crypto Veterans are pessimistic about the short-term trend of Ether. Using $700 million USDC as collateral to borrow $262 million ETH, this leverage ratio is about 2.7 times, which is considered a relatively conservative level of leverage.

Another whale holding a large long position in ETH on the Aave platform sold 2,500 ETH, worth $9.67 million, to reduce leverage. This trader previously bought 2,989 ETH at an average price of $4,197 per coin, and this sale is estimated to have incurred a loss of $820,000. He currently still holds 13,504.56 ETH as collateral. This loss-cutting operation shows that even whales can make mistakes, and when the market trend goes against expectations, timely loss-cutting is wiser than stubbornly holding on.

Altcoin Divergence: ASTER Under Attack, SOL in Demand

In addition to Bitcoin and Ethereum, other alts have also attracted the attention of crypto whales. Binance founder Zhao Changpeng revealed on November 2 that he personally invested $2 million to purchase ASTER tokens. Additionally, another whale redeemed 5.8 million ASTER from Binance, worth $5.58 million. OnChain Lens pointed out: “In the past 6 days, it has withdrawn 6.8 million ASTER from Binance, worth $6.66 million.”

However, market participants have taken a more defensive stance on ASTER. After CZ announced his personal purchase of the token, traders 0xbadb and 0x9eec increased their short positions on the asset. Lookonchain posted: “Both whales currently shorting ASTER have made a profit—0x9eec has made $5.9 million, while 0xbadb has made $1.4 million.”

This contradictory phenomenon reveals the divergence among Crypto Assets Whales. CZ's buying and the withdrawals of some Whales indicate bullish sentiment, while the short positions taken by two other Whales show a bearish stance. This kind of divergence often occurs at market turning points, and when there is a lack of consensus among Whales, the market direction becomes even more uncertain.

In addition, Lookonchain pointed out that three wallets purchased 2.26 million GHOST tokens over the weekend. A Solana (SOL) Whale that had been inactive for 10 months purchased 1.12 million GHOST tokens, indicating a strong interest in this Crypto Asset. The reactivation of dormant Whales is often an important signal, as they typically only act when they perceive significant opportunities.

The Solana market is similarly active. Trader 0x8d0E transferred 10 million USDC to Hyperliquid and established a 20x leveraged long position of 140,366 SOL, valued at approximately 26.14 million USD. This high-leverage operation indicates that the trader is extremely bullish on SOL's short-term trend and is willing to take on significant risks for high returns.

Derivatives Market 100% Win Rate Whale Increases Position by 420 Million

(Source: Hypurrscan)

In the derivatives market, major market participants adjusted their positions, and market sentiment is mixed. A crypto whale with a win rate of 100% increased its long position. Lookonchain stated: “The intelligent trader 0xc2a3 with a 100% win rate continuously adds to its long positions in BTC, ETH, and SOL! Current holdings: 39,000 ETH (worth $151 million), 1,070 BTC (worth $118 million), 569,963 SOL (worth $106 million).”

This “100% win rate” crypto Whale has a total holding of approximately 375 million USD, making it one of the most watched smart money in the market. While a 100% win rate may be exaggerated or based on specific statistical criteria, the behavior of continuously accumulating itself is a strong bullish signal. When a historically high-performing trader goes against the trend and accumulates during a market downturn, it often indicates that they believe the current price is undervalued.

These mixed strategies indicate that Crypto Veterans are preparing for future volatility by balancing market fluctuations through bullish leverage on major tokens and selective short bets on smaller tokens. The high-value trades of ASTER, GHOST, and SOL suggest that Whales are seeking a balance between accumulation and defensive positioning. Although global trade tensions have eased, the Crypto Assets market erased weekend gains during early Asian trading on Monday, falling to $3.59 trillion, and the market is still waiting for a clear direction.