BitcoinMarkets
|2 min ReadBitcoin Whale Opens 200M From Crash
Maya Chen
Senior Analyst
Published
Jan 16, 2026
The $11B giant returns with another risky bet
The 235 million short position on Monday, using 10x leverage, effectively wagering on Bitcoin’s next leg down. The entry came when BTC traded near 112,368, blockchain data from Hypurrscan shows.
Wallet “0xb317,” short position. Source: Hypurrscan.io
The move follows a 100,000. The trader, described by Arkham as “the whale who made 30 million to Hyperliquid to open this new position. He later transferred another 220 million to Coinbase.
Source: Arkham
From market mover to ETH whale
This same whale made headlines two months ago for rotating $5 billion worth of Bitcoin into Ether, briefly surpassing Sharplink in total ETH holdings. Analysts say heavy selling from older Bitcoin whales like this one helped cap BTC’s August rally.
Meanwhile, the newest generation of Bitcoin whales — those who bought near the top — now sit on roughly 113,000. According to CryptoQuant, Bitcoin is trading under its average cost basis of about $113K, marking the largest unrealized loss since October 2023.
Source: CryptoQuant
Market cools after leverage flush
Despite the bearish mood, analysts at Glassnode and CryptoQuant say the recent four-day drop to $104,000 was a healthy shakeout that cleared excess leverage. Short-term holders now control more supply, and speculative capital dominates trading again — a familiar pattern after big corrections.
In a volatile market, one whale’s trade can move sentiment fast. This one has already proven it can make waves — and it’s betting that Bitcoin isn’t done falling yet.
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