Are Crypto Whales Betting on More Upside or Preparing for a Pullback This Week?

The crypto market has continued its recovery following cooler US CPI data and growing expectations of a Federal Reserve rate cut this week.

Amid the rebound, whale traders have been committing millions in position shifts and spot trades across Bitcoin (BTC), Ethereum (ETH), and several major altcoins. These actions highlight a more positive sentiment and increased risk-taking among crypto whales.

Smart Money Bets on Bitcoin and Ethereum Rally

As optimism continues to build across the crypto market, whales are betting on further upside for major digital assets. On-chain analytics platform Lookonchain reported that a smart money trader, identified as wallet 0xc2a3, with a 100% win rate, has added more Ethereum and Bitcoin to his long positions.

The trader’s long positions include 1,483 BTC, valued at $170.46 million, and 40,044 ETH, valued at $167.35 million.

“As the market rallies, his total profit has reached nearly $30 million!” Lookonchain added.

Another crypto whale, wallet 0xb9fe, who took a 25x leveraged long position in ETH after the October 11 flash crash, has reportedly started setting take-profit orders. Despite this, the trader continues to hold 15,689.44 ETH in open long positions, indicating sustained confidence in the ongoing market recovery.

Furthermore, crypto whale 0xC50a has opened a 40x long position in BTC and a 10x long position in HYPE, later adding a 25x long position in ETH. His current positions show an unrealized profit of around $2.1 million.

Meanwhile, on-chain data from Onchain Lens revealed that another whale holding a 5x long position in HYPE is sitting on a floating profit of approximately $9.5 million.

“The whale also holds smaller long positions in PURR, 0G, XPL, and 2Z, with an overall profit of $11.47 million,” the post read.

Crypto Spot Markets Heat Up as Whales Accumulate

Beyond derivatives, spot activity surged across leading digital assets. SharpLink Gaming, the second-largest corporate holder of Ethereum, resumed accumulation after a month. The firm purchased 19,271 ETH worth roughly $78.3 million.

A separate whale made a strategic rotation from Solana (SOL) to Ethereum. Lookonchain highlighted that a week ago, the trader offloaded 99,979 SOL for roughly $18.5 million and later bought 4,532 ETH at an average price of $4,084.

In another large-scale transaction, Richard Heart moved 30,066 ETH valued at $125.09 million to a newly created wallet, including 29,804 ETH transferred through Tornado Cash.

Bitcoin whales were also on the move. One address accumulated 3,195 BTC over the weekend — a purchase worth approximately $356.6 million.

Moreover, two new wallets pulled 820 BTC valued at $94.32 million from Binance and OKX. Strategy Chairman Michael Saylor has also hinted at additional Bitcoin purchases.

Among altcoins, a new wallet withdrew over 280,000 Chainlink (LINK) worth around $5 million from Binance. Lastly, another address, inactive for nearly a year, removed 15.1 million Dogecoin (DOGE), valued at roughly $2.95 million.

“The whale also sold 7,473 DOGE for $1,450 USDT from his old holding. Currently holding 15.19 million DOGE, worth $12.96 million,” OnChain Lens wrote.

The coming days will test the strength of the market’s recovery. Whale traders have reemerged with high conviction and large positions, signaling renewed confidence — but also raising the stakes if volatility returns.