Bitcoin Updates: BitcoinOG's Setback Underscores the Dangers of Trading Crypto with Leverage
- BitcoinOG lost $3M on long positions after depositing $1.48B BTC into exchanges, signaling market volatility. - Whale Owen Gunden moved $364.5M BTC to Kraken, raising concerns about selling pressure and potential corrections. - $260M in long positions liquidated as Bitcoin dipped to $115,000, reflecting leveraged trading risks and uncertainty. - Geopolitical tensions and a negative Coinbase premium indicate waning U.S. investor demand, compounding market turbulence. - Analysts caution whale deposits don'
A well-known
Another experienced whale, Owen Gunden, has echoed BitcoinOG’s moves by sending $364.5 million in BTC to Kraken between October 21 and November 3, according to Yahoo. These significant transfers, together with broader market trends, have fueled speculation about increased selling pressure and the likelihood of a market correction. CoinGlass data shows that $260 million in long positions were liquidated in just four hours as Bitcoin’s price dropped to $115,000, highlighting the growing uncertainty,
BitcoinOG has recently shifted from shorting to taking long positions, now holding 32,802 ETH (valued at $109 million) and 130,566
Market instability has been intensified by what CryptoQuant identifies as the third major profit-taking phase in the 2023–2025 bull run, CoinDesk reported. This phase, which has seen $6–8 billion in realized profits, has historically been followed by two to four months of market consolidation. Recent blockchain data, such as an OG whale selling 80,000 BTC on July 25, mirrors trends seen in earlier cycles.
Further adding to the market’s unpredictability, geopolitical issues—including tariff increases from the Trump administration—have reduced risk appetite, according to CoinDesk. The Coinbase premium, which measures demand from U.S. investors, has recently dipped below zero, suggesting declining interest in Bitcoin among American buyers, the report stated.
Experts warn that while large whale deposits often precede periods of volatility, they do not necessarily signal immediate selling. The next direction for the market will likely be shaped by the interaction of profit-taking, short-term investor activity, and broader economic conditions. As BitcoinOG and other veteran traders navigate these challenges, the crypto derivatives market continues to present significant risks and opportunities for both experienced and retail participants.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Zcash News Today: Zcash Bulls Surpass Shorts with $16M Profit Compared to $14.5M Deficit
- Zcash (ZEC) saw $16. 3M long gains vs. $14.5M short losses on Nov 7 amid 15% price surge. - Technical indicators show ZEC above key moving averages with RSI near overbought levels. - Market diverges from BTC/ETH ETF outflows as ZEC gains traction against macroeconomic headwinds. - Risks persist with open $14.5M short position and volatility threatening sustainability.
Supreme Court Weighs Trump’s Authority on Tariffs in Major Constitutional Dispute
- Trump admits U.S. consumers bear tariff costs, reversing prior claims foreign nations pay, as Supreme Court reviews IEEPA-based tariffs. - Businesses and states challenge tariffs as unconstitutional, arguing IEEPA doesn't authorize executive-imposed duties under the foreign commerce clause. - Courts have ruled against Trump's tariffs, but the administration plans to use alternative statutes like Section 232 to maintain trade policies if IEEPA is struck down. - Legal experts warn a IEEPA victory could ena
Vitalik Buterin's Newest ZK Breakthrough Triggers Fluctuations in the Crypto Market
- Vitalik Buterin's GKR protocol revolutionizes ZK proofs by reducing verification costs and hardware needs, enabling Ethereum's 2025 scalability goals. - ZK-based projects like ZKsync surged 150% in 2025 as Buterin endorsed upgrades achieving 15,000 TPS and near-zero gas fees. - Institutional adoption grows with Citibank and Deutsche Bank using ZKsync's Prividium, while Starknet and zkSync compete on throughput efficiency. - Investors prioritize ZK projects with strong GKR integration, ecosystem adoption,
ALGO Price Drops 7.18% Over the Past Week as Earnings Remain Mixed and Strategic Moves Unfold
- ALGO stock fell 7.18% over 7 days despite 24-hour gains, reflecting mixed business updates from Light AI and Aligos Therapeutics. - Light AI increased R&D spending to $1.2M in Q3 2025 but faced $3.4M non-cash compensation expenses, signaling financial strain amid innovation focus. - Aligos advanced hepatitis B trials but reported $31.5M net loss in Q3 2025, highlighting clinical progress versus immediate financial challenges. - Market uncertainty persists as investors weigh innovation potential against h
Trending news
MoreCrypto prices
More
