Bitcoin (BTC) Changes Direction, Whales Get Active: Here Are the Altcoins They’re Trading…

In the cryptocurrency market, the actions of major players have been making headlines lately, as much as price movements.

Bitcoin, which surged above $80,000 last week, has recently fallen back to around $78,000. Volatility in altcoins is also reshaping investors’ risk appetite, while transfers made by whale wallets holding $BTC and altcoins are attracting attention.

According to Lookonchain, a cryptocurrency analysis platform, large whale James Wynn switched from a short to a long position in Bitcoin. Having closed his short position at a loss, James Wynn opened a 30x $BTC long position.

Another massive whale caught attention with its transactions in the altcoin $PONS. According to Lookonchain, about a month ago, it spent 181 $ETH (worth $443,000) to buy 7.99M $PONS.

When the price dropped, he sold all his $PONS and lost $308,000. If he hadn’t sold and held onto them, all his $PONS would now be worth $3.46 million. He would have made more than $3 million in profit.

Another mysterious whale address, 0x6436, made 141,442 $HYPE purchases ($11.88M) today.

Another whale, who bought 488,599 $HYPE (worth $17.18 million) at $35 each 5 months ago, has today staked all 488,599 $HYPE and currently has $23.7 million in unrealized profit.

Lastly, a mysterious Ethereum whale sold 167,855 $ETH (worth $408 million). The whale still holds 97,115 $ETH (worth $237 million).

*This is not investment advice.