While Bitcoin remains trapped in a tight consolidation range between $90,000 and $100,000, reflecting broader market caution following the Federal Reserve's recent decision and ongoing macro uncertainty, significant whale activity is painting a different picture beneath the surface. According to blockchain analytics platform Lookonchain, a prominent trader known as "BitcoinOG" or "1011short"—famous for accurately shorting the market during the sharp October 10 crash—is now aggressively expanding a massive long position across multiple major cryptocurrencies.
The whale's current holdings are substantial, totaling approximately $611 million. This includes 150,466 ETH valued at around $491 million, 1,000 BTC worth $92.6 million, and 212,907 SOL totaling $27.8 million. Rather than scaling back during this period of market hesitation, the trader continues to build his exposure, signaling strong conviction in a broader recovery.
Lookonchain reports, citing Hypurrscan data, that the whale is strategically preparing to increase his exposure even further. He has placed limit orders to acquire an additional 40,000 ETH in the $3,030–$3,258 price range and 50,000 SOL at $138.6. These bids are set just below current market prices, suggesting he expects or is prepared for a deeper pullback before the next major upward move. This reflects a deliberate accumulation strategy, aiming to capture liquidity during volatility and use market weakness to scale into long-term positions.
The whale's activity has been marked by significant moves, including transferring 5,152 BTC (worth nearly $477 million) to a new address from a wallet tied to the overall long position. He has also deposited an additional $110 million in USDC to the decentralized exchange Hyperliquid to further expand his BTC and SOL longs. As markets dipped, he doubled down, adding 20,000 more ETH (over $63 million), which pushed his liquidation price to $2,387 and shifted his trade from over $26 million in profit to more than $2.4 million in losses, highlighting the high-risk, high-conviction nature of his strategy.
Meanwhile, Bitcoin's price action shows a market lacking decisive momentum. BTC is testing support above the $90,000 zone and hovering just above its 200-day moving average, but remains below the downward-turning 50-day and 100-day moving averages. Buying volume has been muted compared to previous rallies, indicating limited conviction from the broader market. The actions of this single whale add a layer of intrigue, raising the question of whether "smart money" is positioning early for a potential trend reversal while the rest of the market waits.
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