Whale's Bullish Bet Backfires as Market Shifts
A major crypto whale holding $310 million in BTC, ETH, SOL, and XRP was on the verge of securing massive profits as prices surged yesterday. At its peak, the unrealized gain approached $11 million, signaling a potential windfall for the investor.
But a sudden market reversal changed everything. After hitting intraday highs, major cryptocurrencies dropped sharply, wiping out nearly $10 million in potential gains and flipping the position into losses. Current data shows the whale now faces over $1.45 million in unrealized losses.
SOL Position Drags Down Portfolio
The largest loss comes from the SOL holdings. Despite adding to the position just two hours before the downturn, the $46.4 million long is now underwater by $817,000. This single asset has become the heaviest drag on the portfolio’s performance.
- BTC and ETH longs also under pressure
- Recent buying spree caught on wrong side of market
- Volatility exposes risks of concentrated bets
The shift highlights how even the most powerful players can be blindsided by rapid market moves. As sentiment cools, all eyes are on whether the whale will cut losses or double down in the coming hours.