Original | Odaily ([@OdailyChina](https://x.com/OdailyChina))
Author | Wenser ([@wenser 2010](https://x.com/wenser2010))
Original Title: Long Army Retreat vs Short Army Carnival: Has $100,000 Become BTC's "Maginot Line"?
Early this morning, BTC briefly surged to $107,000 before pulling back, ETH dropped below $2,400, and mainstream cryptocurrencies generally entered a correction mode. Regarding the future market trend, whales have started "speaking through their positions". Some have boldly invested millions of dollars to start their short journey, while others' long positions have nearly reached a floating profit of $30 million. Odaily will sort out and summarize the recent whale positions in this article for readers' reference.
Whale Jams Wynn: Long Position Floating Profit Once Near $30 Million, Currently Retreated to Around $18 Million
On May 18, according to on-chain analyst @EmberCN's monitoring, whale @JamesWynnReal used 40x leverage to long 3,788.7 BTC on Hyperliquid, with a position value of $391 million, entry price of $103,083, and liquidation price of $96,474. As BTC briefly broke through $105,000, James Wynn's long position floating profit exceeded $27.7 million, with $8.38 million floating profit from BTC 40x long and $20.26 million floating profit from kPEPE 40x long.
The latest data shows that whale @JamesWynnReal's BTC long position floating profit has retreated to $1.12 million; kPEPE long position floating profit has retreated to around $17 million; additionally, his XRP long position is floating at a loss of around $2.42 million. On-chain data: [link]
ETH Short Faction: 25x Short, Position Value Once Exceeded $100 Million
Yesterday, a dormant address for four years used 25x leverage to short 41,851 ETH, with a position value of $103 million, entry price of $2,514, and liquidation price of $2,525; subsequently, due to ETH's rise, it ultimately lost $2.46 million when closing. After closing the ETH short, it turned to long BTC with remaining funds: using 40x leverage to long 166 BTC at $106,580, with a position value of $17.6 million, ultimately losing $175,000 in just 45 minutes. However, it later opened another 25x short on ETH, [rolling positions after floating profit], and currently the position has gradually increased to 4,136 ETH. The latest data shows that the address's 25x leverage short position has dropped to around $9.8 million, currently floating at a profit of about $180,000.
On-chain data: [link]
Caught between two sides
ETH Short Faction: 20x Short, Position Once Reached $70 Million
Address 0x2258 previously used 20x leverage to short 28,248 ETH, with a position value of $70 million, entry price of $2,561, and liquidation price of $2,694. 7 hours ago, it closed all short positions, and the address is now cleared.
On-chain information: [link]
Closed out
SOL Short Faction: 20x Short, Holding Over 20,000 SOL
On May 16, according to OnChain Lens, a whale deposited 1.7 million USDC to Hyperliquid, opening a SOL short position with 20x leverage. The latest data shows that the address currently holds about 20,336 SOL, with a cumulative floating profit of around $197,400.
On-chain information: [link]
Short continues
Mainstream Cryptocurrency Short Faction: Previously Profited Over $15 Million on Hyperliquid, Shorting 5 Tokens
According to Lookonchain, a whale who has profited over $15 million on Hyperliquid has begun massively shorting ETH, BTC, AVAX, SOL, and USUAL. This trader has simultaneously set 100 limit orders in the $2,460-$2,480 range, preparing to continuously short ETH.
The latest data shows that all short positions of this address are profitable, including: ETH 20x short position of 3,034 ETH, floating profit of about $182,000; BTC 20x short position of 38 BTC, floating profit of about $84,000; AVAX 20x short position of about 50,000 AVAX, floating profit of about $38,000; SOL 20x short position of about 1,935 SOL, floating profit of about $9,000; USUAL 5x short position of about 185,000 USUAL, floating profit of about $2,000.
On-chain information: [link]
20x short on ETH, BTC, AVAX, SOL, 5x short on USUAL
HYPE Short Faction: 5x Short, Holding Over 1.87 Million HYPE
Previously, according to on-chain analyst Ember, a whale opened a 5x short position of 1.875 million HYPE on Hyperliquid; on the 17th, its floating loss was as high as $12.06 million, after which it withdrew 3 million USDC from Binance as margin, with a liquidation price of $31.6. The latest data shows that the address is now floating at a loss of about $9.55 million.
On-chain information: [link]
Steadfast short
In addition to the above contract long and short whales, some whales also bought spot ETH during its previous oversold period, ultimately realizing profits of millions of dollars.
ETH Bottom-Fishing Whale: Bought 6,700+ ETH, Profited Over $4.26 Million
According to on-chain analyst Ember, a whale transferred 6,384.5 ETH to Binance in the past 4 hours, obtaining 15.549 million USDT, with an average selling price of about $2,435. This whale withdrew 6,710 ETH from Binance about a month ago when the price was $1,768. Rough calculations show a total profit of over $4.26 million in this operation.
On-chain information: [link]
Profit realized
Summary: Short Army Temporarily Leading, But Long Army Never Gives Up
After a brief weekly high, BTC and ETH have both experienced different degrees of correction, with the short army currently holding a leading position. Moreover, whales who previously bottom-fished BTC and ETH have chosen to realize profits. However, industry figures and analysts, including James Wynn and Arthur Hayes, generally believe that BTC's price is unlikely to fall below $100,000, and the long army remains hopeful. In the short term, the short army may have the upper hand, but the long army never gives up.
