On-Chain Whale Movements: From Clearing BTC to Increasing SOL Holdings, What Signals Do the Whale Strategy Adjustments Reveal

【Blockchain Rhythm】The latest on-chain whale position monitoring data shows that several key accounts on Hyperliquid have experienced significant changes recently, implying strategic adjustments by market participants.

The “BTC OG Insider Whale” has a total unrealized loss of $44 million, with total holdings shrinking from $829 million to $817 million. This whale has established the largest long positions in ETH and SOL: ETH 5x leverage long positions decreased from approximately $670 million to $660 million, with an average price of $3,061.18, and unrealized losses worsened from $33 million to $42 million, with a liquidation line at $2,258. The BTC 5x leverage long position remains around $90 million, with an average price of $91,680, only slightly losing $1.68 million.

On the short side, the “Air Force Commander” has increased total holdings from $266 million to $305 million, with the on-chain BTC short identity remaining unchanged. The BTC 40x short position increased from $140 million to $150 million, with an average price of $90,107, and a liquidation price at $92,000. ETH 15x short positions also expanded from $96 million to $110 million, with a liquidation line at $3,043. Interestingly, this whale’s unrealized gains have shrunk, indicating that the market trend may not be as favorable as expected.

The most notable is the tactical adjustment of the “Strategy Opponent”—total positions decreased from $365 million to $332 million, but showed a clear strategic shift: ETH long positions actually expanded to $250 million; a new SOL 20x leverage long position of about $71 million was added, with an entry average price of $128.68; most importantly, the previously held BTC 20x long position of about $210 million has been completely liquidated. This suggests that this whale has given up on bullishness on BTC and is instead increasing long positions on SOL.

The “CZ Opponent,” “ZEC Largest Short,” and “pension-usdt.eth” large accounts have maintained stable holdings with no obvious changes. Overall, the adjustments in on-chain whale positions reflect differing judgments about the recent market direction.