whale

One of the most closely watched and controversial whales in the crypto market has re-emerged. The trader known as “1011”, who perfectly timed a major short position just hours before October’s sharp market crash, is back — but with a dramatically different strategy.
According to data from Hyperliquid, the whale has spent the past several days building some of the largest long positions on BTC, ETH, and SOL, with the total exposure exceeding $500 million. That’s even more than the value of the short positions that made him famous earlier this year.

Whale 1011 flips bullish, opening massive long positions
Whale 1011, often associated with the name Garrett Jin, has developed a reputation for entering positions with uncanny precision. His well-timed October short led to speculation about whether he was trading on privileged or early information.
Now, however, the whale is signaling the opposite outlook:
constructing a huge ETH long positionexpanding into BTC longsplacing limit orders for ETH between $3,030–$3,150setting a SOL buy order at $138.6
These orders appeared at a time when market sentiment remained uncertain and liquidity still fragile.

The whale returns as Bitcoin struggles for stability
The comeback of whale 1011 coincides with a turbulent moment for the market. Bitcoin briefly fell below $90,000, but managed to regain ground above $92,000 ahead of the weekend.
Key indicators show:
BTC Fear & Greed Index: 29 (fear still dominates)Open interest: down to $28 billion, compared to the usual $33 billion seen in prior monthsOptions traders remain divided, with some watching for a drop toward $85,000 or even $80,000
Despite the uncertainty, BTC has repeatedly shown the ability to stage sharp rebounds — precisely the type of environment in which whale 1011 tends to thrive.
His current BTC long entry sits around $91,506, whereas most traders built longs closer to $88,000. The whale is essentially betting that the market has room to recover even if short-term turbulence continues.

Options expiry could trigger major weekend volatility
A potential catalyst for increased volatility is the weekly Deribit options expiration. These expiries often precede strong price movements in BTC and ETH, and whale 1011 appears to be positioning himself accordingly.
His return is therefore seen by many analysts as a signal that the market may be approaching another critical turning point.

Whale transfers BTC to new wallets — accumulation or repositioning?
On December 11, the whale transferred 5,152 BTC to a new address. His previously known wallet still holds approximately 9,340 BTC.
Moving coins into fresh wallets can indicate:
preparation for additional accumulationrepositioning ahead of major tradessecuring assets away from exchangesor broader portfolio restructuring
At this stage, the whale’s intentions remain unclear. Historically, he has executed short-term, high-conviction trades without necessarily holding long-term positions.

What comes next?
Whale 1011 has returned with the largest long positions of his trading history. At a time when the market is grappling with fear, weak liquidity, and concerns about further downside, his aggressive betting adds tension — and potentially foreshadows a major shift in market direction.
If past patterns hold, one thing is certain:

this whale rarely moves without reason — and when he does, the market pays attention.

#bitcoin , #whale , #BTC , #CryptoInvesting , #CryptoNews

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