According to Hyperinsight, January 20 saw intense on-chain trading activity, with several whales making significant moves that caught market attention.
Bull Market Movements
One whale closed a long position of 242 BTC, suffering a loss of $1.042 million, making it the largest single loss among bullish traders today.
Another whale, known for its tactical moves, took a more complex approach by opening a long position of 99.8 BTC while simultaneously shorting 6,355 ETH, creating a cross-asset hedge.
Short Sellers Make Their Move
On the bearish side, a whale known for its swing trading strategy continued to build its XMR short position, shorting 8,383 XMR with 5x leverage and becoming the largest XMR short on the chain.
In addition, a strategy-focused trader closed long positions in BTC and ETH, suffering a combined loss of $324,000, before shifting entirely to bearish bets. The whale shorted 73,000 DASH with 5x leverage, becoming the largest DASH short on-chain, and also shorted 2,078.55 BTC with aggressive 20x leverage.