A crypto whale operating under the on-chain address "0xc2a" netted over $17 million in profits from leveraged trades on Bitcoin and Ethereum amid extreme market volatility in late October 2025. According to data from Arkham and Lookonchain, the trader executed these high-stakes positions on decentralized derivatives platforms like Hyperliquid, with long contracts totaling $155 million on Bitcoin and $131 million on Ethereum.
The trades were timed during a period of heightened geopolitical tensions between Washington and Beijing, which initially triggered a risk-off sentiment and market panic. However, Bitcoin defied bearish expectations, recovering momentum and climbing back above the $110,000 zone, while Ethereum followed suit. This sharp bounce allowed the whale's positions to balloon in value, transforming what could have been a high-risk play into a masterclass in market timing.
Speculation has arisen around the use of AI-driven or algorithmic trading strategies, with analysts suggesting institutional involvement. The event fueled debates on how such large-scale activities impact market dynamics, contributing to $19 billion in liquidations and a surge in transaction volume. Geoff Kendrick, Head of Digital Assets Research at Standard Chartered, noted that the turmoil might create buying opportunities, predicting Bitcoin could reach $200,000 by 2025.
Background details reveal that the whale received an initial inflow of over $20 million in crypto assets, primarily USDC and Ethereum, from Crypto.com's exchange wallet before rapidly deploying funds via Hyperliquid's Bridge2. This episode underscores a broader trend of professional traders leveraging volatility on decentralized platforms, where strategies can be executed instantly without intermediaries.
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