## Crypto whales on opposing sides
In this story, major crypto whales take opposite bets in a highly volatile market, turning long and short positions into a high‑stakes contest. On one side are aggressive bulls repeatedly liquidated yet still adding leverage, while on the other are bears who have already lost over $15 million in a single move but continue to defend their short bias.
## The bull whale’s risky persistence
One leading bullish whale has suffered a dramatic drawdown, with the account dropping by about $153 million within a few hours during last Saturday’s sharp move. Despite this, the trader keeps increasing margin to avoid forced liquidation, maintaining sizable short hedges and a significant SOL long while the remaining equity in the account is now perilously close to being wiped out.
## Massive ETH position under pressure
Part of this whale’s exposure is a large $$15{,}000$$ ETH position worth roughly \$43 million, opened around an entry near \$2,945 with a liquidation price just above \$3,260. With the market moving against the position, the distance to liquidation has narrowed, leaving only a thin safety buffer before the entire trade is closed out by the system.
## A former master of shorts turns bullish
Another whale, previously known for realizing around \$200 million in profits through precise shorting, has now shifted to a bullish stance. This trader transferred about \$10 million to Hyperliquid to build a long position, currently holding tens of millions of dollars in ETH exposure and quickly gaining over \$300,000 in unrealized profit shortly after entering the market.
## Dual strategy: combining spot and leverage
New participants continue to join the long–short battle, adopting more complex strategies that mix spot holdings with leveraged positions. One user, identified as 08de, bought approximately 4,022 ETH on the spot market for around \$11 million and at the same time opened a high‑leverage long, signaling strong confidence in a further price increase.
## Conservative whale with defined targets
Another whale uses a more cautious approach, depositing about \$2 million in stablecoins and opening a 2x leveraged ETH long with a clear take‑profit target set at \$2,980. This low‑leverage, target‑driven plan stands in sharp contrast to the highly geared, high‑stress strategies of the more aggressive players described earlier.
## Lessons from the whales’ battle
The trading records of these whales reveal how differently large players interpret the same market, from extreme leverage and repeated liquidations to disciplined, low‑leverage entries with defined exits. Their actions highlight both the potential for outsized gains and the constant risk of rapid, large losses when using leverage in the crypto market.
> “On one side are the bulls who have been liquidated 71 times yet continue to charge forward; on the other, the bears who have lost over $15 million in a single move but still refuse to back down.”
### Author’s summary
A vivid snapshot of crypto whales shows extreme leverage, sharp reversals, and contrasting risk styles, revealing how quickly fortunes can swing in the long‑versus‑short battlefield.
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Bitget — 2025-11-25