On July 7, on-chain tracker Lookonchain reported that several whale addresses maintained a bullish stance despite Strategy selling Bitcoin. Instead of reducing risk, these wallets opened large leveraged long positions in both BTC and ETH.
According to the data, address 0x15a4 opened a 40x long on 1,000 BTC valued at about $63.8 million. Address 0x7fba opened a 10x long on 30,627 ETH worth roughly $54.9 million. Another wallet, 0xe069, took a 20x long on 470.4 BTC with a position value of around $30 million.
Combined, the three positions total approximately $148.7 million. The trades stand out because they were opened while the market was digesting the potential negative impact of Strategy’s Bitcoin sales, suggesting that some large holders are still positioning for upside rather than turning defensive.
Three whale addresses take large leveraged long positions
On July 7, Lookonchain said that several whale addresses remained bullish even as Strategy was selling Bitcoin. Rather than stepping back from risk, these large holders opened sizable leveraged long positions across BTC and ETH, signaling that some deep-pocketed traders are still positioning for further upside despite the potential market overhang.
In the disclosed positions, address 0x15a4 opened a 40x long on 1,000 BTC, with the position valued at about $63.8 million. Address 0x7fba opened a 10x long on 30,627 ETH, worth around $54.9 million. Meanwhile, address 0xe069 opened a 20x long on 470.4 BTC, with a position value of approximately $30 million.
Based on the figures shared by Lookonchain, the combined size of the three whale positions reached roughly $148.7 million. The setup is notable because it emerged while the market was weighing the bearish implications of Strategy’s Bitcoin sales. Even so, these whale trades indicate that some large market participants have not shifted to a defensive stance and continue to express a directional long view on major crypto assets.
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