**Latest Crypto News: Bitcoin Trades Around $110,000 Amid $376 Million Long Positions**
Bitcoin traded around the $110,000 mark on Sunday, as a prominent crypto trader with an outstanding 100% win-rate opened significant long positions across Bitcoin, Ethereum, and Solana. The trader’s exposure now totals an impressive $376 million.
By Saturday, Bitcoin’s price began to recover from the losses it suffered during Friday’s Wall Street session. This rebound followed a week-long wave of selling, as traders on U.S. exchanges and Bitcoin spot ETFs offloaded holdings. Analysts at on-chain data firm Glassnode noted that the ETF outflows observed on Thursday and Friday reflected “growing sell pressure from traditional finance investors and renewed weakness in institutional demand.”
**$376 Million Long Positions Exposure**
The high-profile trader has sharply increased market exposure across three leveraged long positions: Bitcoin, Ethereum, and Solana. According to the latest data, the trader holds approximately $152 million in Ethereum longs at 10x leverage. This position appears profitable, with over $2 million in unrealized gains.
Bitcoin exposure stands at $118 million, leveraged 13x, showing modest profits as prices hovered near $110,000. Meanwhile, the Solana position totals about $106 million at 10x leverage, currently experiencing a drawdown of just over $6 million. Despite this temporary setback, the overall positioning suggests strong confidence in the market’s upward trajectory.
**Whale Who Shorted Bitcoin on Trump Tariffs Announcement Closes Position**
A well-known crypto skeptic, who shorted Bitcoin ahead of the sell-off triggered by former President Donald Trump’s aggressive tariff announcement on China, has now closed his position. Trade records indicate a full exit from a sizable short position just minutes after Bitcoin began to stabilize.
Market observers say this move reflects a broader shift in sentiment, as bearish traders unwind their bets amid steady buying activity.
**On-Chain Insights Suggest Bitcoin Is Far from Bear Stage**
Bitcoin’s recent correction sparked cautious sentiment across the market. However, on-chain data tells a different story. Glassnode’s Relative Unrealized Loss metric shows the proportion of coins held at a loss remains exceptionally low even after the latest pullback.
At a current price near $107,000, Bitcoin’s unrealized losses represent only about 1.3% of its total market capitalization—a strikingly modest figure. In typical mild bear markets, this ratio often exceeds 5%, while severe downturns can push it above 50%.
Comparing these readings to previous market cycles indicates that market health remains intact, with the majority of investors still in profit. This also suggests a maturation of Bitcoin, where long-term holders remain largely unfazed despite waves of selling pressure.
Many bullish traders have chosen to hold their positions, showing hope rather than panic. While some speculative traders have tested short positions, their impact has been limited by increasing buyer demand, which takes advantage of every dip.
In essence, despite the cautious tone on social media and trading desks, on-chain data paints a picture of a market far from distressed. The current pain level is nowhere near what would define a true bear phase.
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Stay tuned for more updates as the market continues to evolve.
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