Three large crypto wallets opened nearly $149 million in leveraged long positions on bitcoin (BTC) and ether (ETH) as BTC moved back above $64,000, according to on-chain analytics firm Lookonchain. The activity came a day after disclosure of a $216 million bitcoin sale, a development that had weighed on market sentiment.
Whales Add Leveraged Longs as BTC Reclaims $64K
Lookonchain reported that three whale-controlled addresses established substantial leveraged long positions split between BTC and ETH. Leveraged longs are trades that borrow funds to increase exposure, amplifying both potential gains and losses. The positioning suggests some large traders are betting on continued upside following bitcoin’s rebound above the $64,000 level.
Follows $216 Million Bitcoin Sale Disclosure
The whale activity emerged shortly after a $216 million BTC sale was disclosed by a major holder the previous day. That sale marked one of the more notable disposals in recent weeks and arrived amid broader uncertainty across crypto markets. Despite the overhang from selling, the subsequent leveraged positioning indicates pockets of renewed risk-taking among large market participants.
Why It Matters
Whale trades can influence short-term liquidity and price direction, especially when leverage is involved. If prices continue higher, leveraged longs can accelerate upside momentum; if markets reverse, forced unwinds may add to volatility. Observations from on-chain trackers like Lookonchain provide a real-time window into how deep-pocketed traders are positioning across major assets such as BTC and ETH.