As Bitcoin (BTC) Drops from $65,000, Whale Activity Continues: Long Position Opened in One Major Altcoin, Short Position Opened in Another!

As talks between the US and Iran begin in Switzerland, significant steps are being taken by both countries as part of the negotiations.

Accordingly, Iran committed to ensuring unimpeded freedom of navigation through the Strait of Hormuz and granting International Atomic Energy Agency (IAEA) inspectors full access to its nuclear facilities. The US, meanwhile, issued a general license allowing trade in Iranian crude oil and petrochemical products until August 21.

While this situation pushed Bitcoin above $65,000, the declines seen in US stocks yesterday caused $BTC to fall to $62,000 and gold to drop to $4,100 per ounce.

While volatility in Bitcoin is also getting whales moving, many altcoin transactions are also taking place.

According to Onchain Lens, a cryptocurrency analytics platform, an anonymous whale has opened a 20x long position on Hyperliquid with 27.9 million XRP (worth $30.9 million).

The liquidation price of the position was $0.923947, and the whale also held a 20x long position on 809.9 million $BTC, worth $50.6 million.

In response, an anonymous whale with the address “0x9137b” opened a short position on Hyperliquid, amounting to 554,680 Solana tokens, worth $38.14 million.

The average entry price for the position was $69.23, with a leverage ratio of 20x and a liquidation price of $84.88.

The same whale address also holds a $4.25 million Ethereum short position with 11x leverage, an entry price of $1,680, and a liquidation price of $5,134.3.

Lastly, Wang Chun, co-founder of F2Pool, the worlds fourth-largest Bitcoin mining pool, reportedly purchased $4.57 million worth of $BTC and ETH in the last 24 hours.