
A Bitcoin (BTC) whale with a long track record has increased exposure to the cryptocurrency, indicating that large holders are positioning for further upside.
According to data from Hyperbot, cited by Onchain Lens, a single whale wallet with a reported 95% historical win rate and roughly $25 million in cumulative profits has opened a $95.81 million long position in Bitcoin using 3x leverage. The position carries a liquidation price of $60,500 and was showing approximately $200,000 in unrealized gains at the time of writing.
The trade comes as Bitcoin’s price is down 1.1% in the last 24 hours, holding up above $95,000. Provided it doesn’t dip any lower, analysts believe there’s a bullish trend ahead to break past resistance at $97,500. On Stocktwits, retail sentiment around BTC remained in ‘bullish’ territory, but chatter dipped to ‘normal’ from ‘high’ levels over the past day.
On-chain data from Santiment showed that the recent strength in Bitcoin’s price has been supported by accumulation from large holders rather than speculative retail demand.
Since January 10, wallets holding between 10 and 10,000 Bitcoin have collectively added 32,693 BTC to their holdings. That represents a 0.24% increase in their combined balances over the period.
Meanwhile, the smallest holders have moved in the opposite direction. Wallets holding less than 0.01 Bitcoin, often categorized as retail or “shrimp” wallets, have collectively reduced their exposure by 149 BTC, a 0.30% decline in aggregate holdings since January 10.
Santiment said this divergence reflects a familiar market pattern in which larger, longer-term investors accumulate during periods of hesitation among smaller participants. It noted that this pattern usually occurs when there’s an uptrend in the making.
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