$748 Million Bitcoin Buying Spree Generates Bullish Sentiment

In the latest trends of the cryptocurrency market, a substantial position taken by a high-net-worth individual has triggered discussions among traders about whether the market may soon experience a quick bounce or if more downward pressure is ahead. On-chain analysis reveals that an $11 billion Bitcoin whale recently liquidated assets and placed nearly $750 million in bets on rising prices for Bitcoin, Ether, and Solana.

Key Takeaways

A high-net-worth Bitcoin whale opened a massive $748 million long position after selling approximately $330 million in Ether.
The significant long on Ether is set with a liquidation point below $2,143, while the whale faces substantial unrealized losses.
Other whale activities indicate a trend of converting Bitcoin into Ether, but top traders are increasingly bearish.
The cryptocurrency market is currently under pressure, with Bitcoin and Ether missing expected year-end rally opportunities.

Bitcoin

Whales Making Big Moves

According to reports from Lookonchain, this large crypto wallet sold approximately $330 million worth of Ether before initiating three leveraged long positions that totaled $748 million. The largest single position is a massive $598 million long on Ether, opened at $3,147, with a liquidation point set below $2,143. The entry prices for this whale's other positions were around $87,883 for Bitcoin and $124.43 for Solana. At the time of these trades, Ether was priced near $2,975. Currently, the whale is facing around $50 million in unrealized losses from these leveraged investments, based on on-chain data.

BREAKING!
The #BitcoinOG(1011short) with a massive $749M long position in $BTC, $ETH, and $SOL, just deposited 112,894 $ETH ($332M) into #Binance again.
https://t.co/rM9dXV3Ln4
https://t.co/Fsi6okD47f pic.twitter.com/qVlZ4c6Htx
— Lookonchain (@lookonchain) December 30, 2025

BREAKING!
The #BitcoinOG(1011short) with a substantial $749M long position in $BTC, $ETH, and $SOL, has just made another deposit of 112,894 $ETH ($332M) into #Binance.
https://t.co/rM9dXV3Ln4
https://t.co/Fsi6okD47f pic.twitter.com/qVlZ4c6Htx
— Lookonchain (@lookonchain) December 30, 2025

Transaction Activity

Caution Amid Optimism

Reports indicate that other significant whale addresses have also been buying spot Ether around the same timeframe. One transaction thread reveals that approximately $5 billion worth of Bitcoin has been converted into Ether since August, including an earlier exchange of $2.59 billion in BTC for about $2.2 billion in spot ETH, along with a $577 million perpetual long position.

In a notable flurry of activity, nine sizable addresses collectively added $456 million in ETH in just one day. Data from Nansen shows that 19 wallets have accumulated a total of 7.43 million spot ETH over the past weeks.

Market Data

However, Nansen’s analytics reveal a different picture among top-performing traders. They have surprisingly lowered their bullish Ether positions by $6.5 million in a single day and currently hold net short positions totaling $121 million in ETH. This group is also bearish on Bitcoin, maintaining $192 million in short exposure, alongside $74 million in Solana shorts. While large-scale buying can temporarily uplift prices, seasoned traders seem to be preparing for further declines instead of a lasting upswing.

Crypto Market Overview
Total crypto market cap currently at $2.97 trillion. Chart: TradingView

As December closed, Bitcoin and Ether failed to deliver the anticipated year-end rally, underscoring the vulnerability of crypto markets amid low liquidity and cautious risk appetite. Bitcoin's attempts to regain crucial price levels were unsuccessful, and the quarter concluded with losses, in contrast to precious metals like gold, which saw gains. The market is now focused on whether Bitcoin can maintain support as it enters the new year; the recent failed rally might suggest deeper corrections are necessary before a sustainable recovery can take place.

Featured image from Unsplash, chart from TradingView