Whales' Preferences: Increasing Interest in BTC, ETH, and LINK

Whale Activity Increases After Market Decrease

Cryptocurrency markets have started the new week with an upward trend, led by Bitcoin, recovering from last week's selling wave. Bitcoin has risen above $110,000, bringing the total cryptocurrency market value to $3.75 trillion, a 2% increase. With prices stabilizing, crypto whales have become more active in both derivative and spot markets. This marks a strategic repositioning process amid volatile market conditions.

Notable Moves in Derivative Markets

Whale activity has become more pronounced with movements in derivative markets. Investors have opened defensive positions with short and high-leverage long positions among Bitcoin (BTC), Ethereum (ETH), and Ethena (ENA) to cope with volatility. Notably, on-chain analysts pointed out that a whale who had taken a short position in BTC last week has entered a bullish trend this week. This investor is drawing attention with a position worth approximately $250 million in BTC and ETH.

Strategic Buys in Spot Markets

Spot markets have also seen significant flows due to major crypto players restructuring their portfolios. For instance, Ethereum treasury company BitMine added $1.5 billion worth of ETH to its assets, reaffirming its confidence in long-term fundamentals despite market turbulence. In another example, El Salvador increased its Bitcoin reserves, buying 8 more BTC, and now has a total of 6,355.18 BTC.

Increased Interest in Chainlink

Whale activity has not been limited to Bitcoin and Ethereum. According to analytical data, whales are accumulating Chainlink (LINK). A newly created wallet withdrew 142,428 LINK (approximately worth $2.4 million) from Binance. This process indicates that investors are strategically positioning themselves even amid market fluctuations.

Conclusion

The dynamics between high-leverage positions in derivative markets and spot markets provide valuable insights into how crypto whales respond to market movements. While some whales are positioning themselves against further declines, others are strengthening their positions.