A trader closed approximately $10 million in 25x leveraged ETH long positions at a $2.29 million loss and withdrew remaining collateral of around $2.17 million over the past 24 hours, Hyperinsight data show. Huang Licheng re-entered Hyperliquid with about $500,000 on Wednesday evening, establishing 25x leveraged ETH longs; after multiple liquidations, he added collateral 8 hours ago and currently holds approximately $10 million in ETH long positions with an entry price of $3,334.35 and liquidation price of $3,204.10. Separately, Tether increased its Bitcoin holdings by 961 BTC valued at $97.34 million, bringing total holdings to 87,290 BTC worth $8.84 billion.

Bitcoin and Ethereum options valued at over $5 billion are set to expire on Nov. 7, Deribit data show. Bitcoin options have a max pain point near $108,000 with a Put Call Ratio of 0.83, with open interest concentrated around $100,000 puts and $120,000-$125,000 calls. Ethereum options show a max pain point approaching $3,800 with a Put Call Ratio of 0.9, with open interest centered on $3,500 puts and $4,200 calls.

A whale holding 1,231.98 BTC in short contracts valued at $124 million has recorded an unrealized profit of $12.99 million, on-chain analyst Ai Yi reports. The position, with an average entry price of $111,499.3, was built through multiple additions between Oct. 24 and 28. This marks the address's fourth consecutive Bitcoin short trade since early 2025.

Bitcoin could rise to approximately $170,000 over the next 6 to 12 months as leverage resets and its volatility improves relative to gold, JPMorgan analysts said. The team led by Managing Director Nikolaos Panigirtzoglou noted in a Wednesday report that the crypto market has pulled back around 20% from recent highs, with the sharpest decline occurring on Oct. 10 when the perpetual contract market witnessed the largest liquidation event in crypto history. A smaller-scale liquidation followed on Nov. 3, associated with further erosion of investor confidence after the Balancer protocol in the decentralized finance sector suffered a vulnerability exploit exceeding $120 million, reigniting concerns over protocol security.

Bitcoin long positions saw liquidations exceeding $2.8 billion over the past two days, Bitfinex data show. The cryptocurrency fell more than 10.4% during this period, dropping below $99,045 and breaching the October 10 low, while overall market capitalization contracted by $280 billion. Open interest declined to $69.3 billion from $92 billion in early October. Buyers entered the market after the price broke below $100,000, suggesting the deleveraging process may be nearing completion, according to the report.

BlackRock transferred 4,652.87 BTC valued at $478.51 million and 57,455 ETH valued at $194.86 million to Coinbase on November 6, on-chain data show. The combined deposit totaled approximately $678 million across both digital assets.

A whale wallet opened a 40x leveraged long position on Bitcoin valued at $23.05 million at $102,700, on-chain analyst Yu Jin reported on Nov. 6. The position has a liquidation price of $101,400 and used the trader's remaining $570,000 in capital after five consecutive losing trades. The trader had lost $1.4 million shorting ETH the previous evening and withdrew additional capital from the trading platform to add to the position.

A trader deposited 7 million USDC to Hyperliquid via a newly created wallet and opened short positions on Bitcoin and XRP with 20x leverage, Lookonchain reports. The positions total 1,129 BTC (approximately $116 million) and 8,888,888 XRP (approximately $20.35 million). The trader also uses Roobet and Stake platforms.