Main highlights
- Hyper Unit Whale initiated a new $55 million long position in Hyper Liquid, deploying $37 million in BTC and $18 million in ETH.
- More than $1.1 billion was liquidated in the cryptocurrency market in the past 24 hours.
- Chances of a drop below $100,000 by the end of the year have increased significantly after Chairman Jerome Powell said a December rate cut was “far from guaranteed”
The previously identified “hyperunit” whale, known for amassing a historic $850 million in Bitcoin during the 2018 bear market, with his portfolio ballooning to more than $10 billion, has just initiated massive long positions.
Exactly what the $10 billion hyper unit whale was dreaming of. $BTC and $ETH
This address is owned by Hyperunit Whale and will:
– Bought $850 million in BTC during the 2018 bear market and held it until it was worth over $10 billion
– Rotated $5 billion of BTC into ETH from August to October of this year
– Successfully earned $200 million… pic.twitter.com/nvgvGe76lm— Arkham (@arkham) November 3, 2025
According to Arkham, the hyperunit whale has deployed $37 million in Bitcoin and $18 million in Ethereum on the HyperLiquid exchange. Hyperunit recently managed to rotate $5 billion from Bitcoin to Ethereum, making an estimated profit of $200 million from shorts in anticipation of the October 10th market crash.
Witness of the virtual currency market $1.1 billion in long-term liquidation
Amid the recent cryptocurrency market downturn, decentralized prediction platform Polymarket reflects a major shift in trader sentiment. According to Polymarket’s official page, data shows that the probability of Bitcoin falling below the $100,000 threshold by the end of the year has skyrocketed by 52%.
This change in sentiment came after a market-wide correction that saw Bitcoin briefly drop nearly 5% to $105,400. This wiped out an estimated market cap of $182 billion until a partial recovery stabilized the price to around $106,418.
Market analysts believe the volatility was largely due to hawkish comments from Federal Reserve Chairman Jerome Powell, who recently tempered expectations that a rate cut was imminent. This stance caused interest rate futures to soar, and the probability of a Fed rate cut in December plummeted from 96% to less than 70%.
According to coin market capBitcoin trades for around $106,987 and has a market capitalization of $2.13 trillion. The 24-hour trading volume was approximately $70.26 billion. The Fear & Greed indicator shows signals of fear.
Bitcoin shows resilience to market crashes
Fundstrat’s Tom Lee called October’s liquidation event “the biggest in crypto history,” but what matters is Bitcoin’s resilience. Despite massive liquidations in the crypto market, BTC only fell by 3% to 4% amid the turmoil.
This divergence indicates that markets are being fundamentally transformed by institutional absorption. During the FTX collapse, the value of BTC plummeted by 20% due to comparable leverage unwinding.
According to on-chain analytics firm Alfaractal, current crypto market sentiment has plummeted to its most negative level since April of this year. This proprietary indicator has historically demonstrated approximately 90% accuracy in identifying regional price bottoms, and currently, entering the “orange or red” zone indicates severe oversold conditions.
This data suggests the market may be approaching a classic contrarian buy signal, which historically marks a reversal point after a period of fear and selling pressure.
Despite the current market decline, Michael Saylor’s strategy announced the acquisition of 397BTC for $45.6 million, bringing its holdings to 641,205 coins (worth over $69 billion).
That’s not all, Treasury Secretary Scott Bessent said “Seventeen years after the white paper, the Bitcoin network is still up and running and more resilient than ever. Bitcoin will never shut down.”
The current market retrace is a direct result of monetary policy expectations becoming more hawkish following comments from Federal Reserve Chairman Jerome Powell downplaying the possibility of a December interest rate cut.
Bitcoin is experiencing accelerating selling pressure as traders rapidly de-risk their portfolios. This sentiment is quantified by the Crypto Fear & Greed Index, which remains at 35 points in the “fear” realm.
The bearish momentum has led to significant outflows, with nearly $800 million leaving Bitcoin and Ethereum spot ETFs last week. This was a 3.5% drop for the week, and contributed to the crypto market cap falling below $3.6 trillion.
Meanwhile, recent tensions between the US and China and fluctuations in oil prices are prompting a flight to safety.
In contrast, risk-sensitive assets such as Bitcoin remain under selling pressure. Despite forward guidance indicating a potential rate cut in early 2026, the immediate environment remains challenging for speculative capital inflows.