Bitcoin News Update: One Investor’s $64 Million Wager Stands Out Amid $1.2 Trillion Crypto Sell-Off

Bitget-RWA2025/11/06 17:02

By:Bitget-RWA

- Crypto market lost $1.2T since October due to extreme leverage unwinding and risk aversion, with $1.73B in liquidations on Nov 5 alone. - A single trader placed $64.7M leveraged long bet on Hyperliquid amid record BTC/ETH price drops and CNN Fear & Greed Index hitting 21. - European regulators dismantled €600M crypto fraud network while AMINA Bank secured EU MiCA-compliant crypto license, signaling mixed institutional confidence. - Bitcoin's 50-day EMA nears bearish crossover as whales dumped $45B BTC, y

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The cryptocurrency sector is experiencing a significant correction, with $1.2 trillion in market value wiped out since October due to widespread deleveraging and a surge in risk-off sentiment. According to CoinGlass, November 5 alone saw $1.73 billion in liquidations, with $1.32 billion coming from long positions, as highlighted in an

FXStreet report

. This comes amid a broader downturn where

Bitcoin

(BTC) and

Ethereum

(ETH) each lost more than 3% in a single session, sparking a wave of margin calls across trading platforms, according to another

FXStreet update

In the midst of this volatility, one trader took a daring $64.7 million leveraged long position on Hyperliquid, targeting Bitcoin, Ethereum,

Solana

, and

Uniswap

. Identified by wallet 0x9263..., this individual had closed four successful short trades the day before and then switched to aggressive long bets with 4.17x leverage, as reported by

Yahoo Finance

. This strategy ran counter to the prevailing market mood, with the CNN Fear & Greed Index plunging to 21—its lowest since the 2022 bear market—signaling deep investor unease (the Yahoo article also referenced this drop).

The liquidation wave intensified as prices tumbled rapidly:

BTC

slid from $108,000 to $105,000, and

ETH

dropped from $3,700 to $3,500 in just an hour, according to the FXStreet report.

Bitcoin News Update: One Investor’s $64 Million Wager Stands Out Amid $1.2 Trillion Crypto Sell-Off image 0

The most significant single liquidation was a $33.9 million ETH position on HTX, highlighting the extent of forced selling. Additionally, a well-known trader with a previously perfect record, 0xc2a3, saw their performance turn negative with a $17.6 million loss on Hyperliquid, as detailed in the same FXStreet coverage.

Regulatory oversight is ramping up as European officials dismantled a €600 million crypto scam network, arresting nine suspects tied to fraudulent investment schemes. The operation, which spanned Cyprus, Spain, and Germany, used social media ads and fake celebrity endorsements to attract victims, according to a

VarIndia report

. In a separate development, Switzerland's AMINA Bank obtained a MiCA-compliant license to broaden its crypto offerings across the EU, reflecting increasing institutional trust in regulated digital asset markets, as reported by

Coindoo

Institutional appetite presents a mixed picture. Bitcoin’s realized cap climbed by $8 billion to reach $1.1 trillion, fueled by treasury allocations and ETF activity, but inflows have recently slowed, according to

CoinGlass

. Solana (SOL) recorded $9.7 million in ETF inflows for the seventh straight day, yet stablecoin liquidity on its network declined 8.16% over the week, raising concerns about lower trading volumes, as noted by

CoinCentral

. Robinhood’s third-quarter results showed a resurgence in retail interest, with crypto trading revenue tripling to $268 million, as reported by

Coinpedia

Despite recent upheaval, some investors remain hopeful. At Ripple Swell 2025, BlackRock’s Maxwell Stein forecasted a “trillion-dollar crypto surge,” while Evernorth increased its

XRP

holdings to $1 billion (as mentioned in the Coinpedia update). Still, on-chain signals urge caution: Bitcoin’s 50-day EMA is nearing a bearish crossover with the 100-day EMA, and the RSI is close to oversold territory, according to the FXStreet update.

The market’s direction will depend on regulatory developments and macroeconomic shifts. Analysts suggest that potential Federal Reserve rate cuts in Q4 and renewed ETF inflows could drive BTC toward $140,000, as per CoinGlass. However, with more than $45 billion in Bitcoin sold by large holders in recent weeks (reported by Coinpedia) and ongoing stablecoin outflows, the market remains susceptible to further volatility.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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1. Technology stocks fell sharply as investor interest shifted toward energy and selected defensive assets. From October 10 to 16, the Nasdaq 100 declined 5.49% and the S&P 500 fell 1.95%, while the Dow gained 0.67% and WTI crude rose 10.41%. BTC, ETH, and SOL declined 1.27%, 2.65%, and 4.44%, respectively. This week's technology earnings will be an important test of whether revenue growth, margins, and cash flow can justify current valuations. Better-than-expected results could help stabilize markets in the near term. 2. Crypto continues to see pockets of strong activity, but a broad-based altcoin season has yet to materialize. CoinMarketCap's (CMC) Altcoin Season Index stood at 54 as of the October 18 UTC daily observation, below the altcoin-season threshold of 75, while BTC dominance rose to 60.08%. Our proxy leverage ratio fluctuated between 4.00 and 4.07 during the week, showing no sustained increase and suggesting limited appetite for additional leverage. Meanwhile, as major exchanges expand access to traditional financial assets, the recent sell-off in AI-related equities could attract short-term speculative capital away from crypto. Such capital rotation could make it more difficult for a new altcoin season to take hold. 3. Papertrade's loss-to-mine model has generated significant interest across the crypto community. The protocol combines high-leverage derivatives trading with zero slippage and a mechanism that rewards trading losses with PAPER tokens. Across the eight complete UTC days from October 10 to 17, cumulative reported revenue reached approximately $56.08 million, including $51.90 million distributed to token holders. With growing participation from key opinion leaders (KOLs), Papertrade has reportedly ranked among the top three platforms by profitability in the broader market recently. Assets to watch: BTC, ETH, SOL, ARB, OP, SKHYNIX, SKHY, META, TSLA, LRCX, and SPCX. Key research priorities this week: Cash flow performance in technology earnings; the relative discount and holding costs of the two SK Hynix contracts; and U.S. initial jobless claims and PMI data. Weekly market data cover the period through October 16, while research information was verified through October 18. Observation periods are specified separately for each chart.

Bitget•2026/10/19 06:51