Particle.news
Download on the App Store
45 ARTICLES
·
yesterday

Dormant Bitcoin Whale Triggers Flash Crash as Billions Rotate Into Ether

Thin weekend liquidity with heavy leverage turned a single wallet’s rotation into a rapid selloff that refocused flows on ether.

A souvenir bitcoin token is seen pictured with a 100 ruble bill in Moscow on July 30, 2024. Russian lawmakers voted on July 30, 2024 to tighten rules on petrocurrency mining, while also paving the way for it to be used in cross-border payments as a means to skirt Western sanctions. (Photo by Alexander NEMENOV / AFP) (Photo by ALEXANDER NEMENOV/AFP via Getty Images)
Image
ETH retraces after ATH: Can returning buyers push Ethereum back above $4.8K?
Ethereum's supply shock incoming? Peeking into what traders are up to

Overview

  • Bitcoin slipped to roughly $111,000 after a minutes‑long drop from about $114,700 to near $110,600, with forced liquidations reported between about $500 million and $845 million.
  • On‑chain trackers tied the move to an early holder depositing roughly 23,000–24,000 BTC on Hyperliquid, then buying around 473,000 ETH and opening sizable long positions.
  • The wallet’s ether exposure showed paper gains exceeding $100 million, with partial long closures around $4,735 reported and proceeds redeployed into additional spot ETH.
  • Hyperliquid logged a record near $3.4 billion in 24‑hour spot volume, including about $1.5 billion in BTC trading, highlighting concentrated venue flows during the turmoil.
  • Market structure signaled rotation as bitcoin dominance fell toward 57% and ether approached $5,000, with derivatives leverage and key BTC supports near $112,000–$107,500 in focus.