{"id":75056,"date":"2026-07-07T06:37:37","date_gmt":"2026-07-07T06:37:37","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/whales-open-148-million-in-leveraged-longs-as-bitcoin-reclaims-64k-after-strategys-3588-btc-sale\/"},"modified":"2026-07-07T06:37:37","modified_gmt":"2026-07-07T06:37:37","slug":"whales-open-148-million-in-leveraged-longs-as-bitcoin-reclaims-64k-after-strategys-3588-btc-sale","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/whales-open-148-million-in-leveraged-longs-as-bitcoin-reclaims-64k-after-strategys-3588-btc-sale\/","title":{"rendered":"Whales Open $148 Million in Leveraged Longs as Bitcoin Reclaims $64K After Strategy&#8217;s 3,588 BTC Sale"},"content":{"rendered":"<p><b>(Originally posted on : Bitcoin News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"@container mb-[25px] rounded-sm overflow-clip py-0.5 pr-0.5 pl-2.5 bg-success-100\">\n<div class=\"flex flex-col gap-m overflow-clip rounded-[6px] !bg-success-10 p-3 @[420px]:p-m\">\n<h2 class=\"m-0 flex items-center gap-s text-[19px] !text-[#1c1c1c] md:text-[20px]\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"10\" viewbox=\"0 0 16 10\" fill=\"none\" class=\"shrink-0 text-success-100\" aria-hidden=\"true\"><path d=\"M1 1.5h14\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><path d=\"M1 8.5h10\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><\/svg><span>Key Takeaways<\/span><\/h2>\n<ul class=\"m-0 flex list-none flex-col gap-m pl-0\">\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Lookonchain tracked 3 whales opening $148.7M in longs, including a 40x position on 1,000 BTC worth $63.8M.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Bitcoin rebounded to $64,312 earlier today after falling to $61,246 on Strategy\u2019s $216 million sale disclosure.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Bernstein said BTC\u2019s 54% drawdown remains far milder than the 75%-90% declines of past cycle bottoms.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<h2>Big Money Leans Long Into the Fear<\/h2>\n<p>While much of the market was still digesting the <a href=\"https:\/\/news.bitcoin.com\/strategy-sells-3588-bitcoin-for-216-million-to-cover-dividend-payments\/\">first major bitcoin sale by Strategy Inc.<\/a> (Nasdaq: MSTR), a handful of deep-pocketed traders were positioning for a bounce. Onchain analytics firm Lookonchain flagged the activity on Tuesday, <a href=\"https:\/\/twitter.com\/lookonchain\/status\/2074316045968617867\" target=\"_blank\" rel=\"noopener noreferrer\">writing<\/a>:<\/p>\n<blockquote>\n<p>\u201cDespite Strategy selling <span>BTC<\/span>, <span>whales<\/span> still seem <span>bullish<\/span> on the market.\u201d<\/p>\n<\/blockquote>\n<p>The firm identified three wallets making outsized bets. A wallet tagged 0x15a4 opened a 40x leveraged long on 1,000 <span>BTC<\/span> worth $63.8 million. A second address, 0x7fba, went 10x long on 30,627 ether ( <span>ETH<\/span>) valued at $54.9 million, while a third, 0xe069, opened a 20x long on 470.4 <span>BTC<\/span> worth $30 million. Together, the three positions total roughly $148.7 million in notional exposure.<\/p>\n<p>The <span>whales<\/span>\u2019 timing tracks <span>bitcoin<\/span>\u2019s rebound as the <span>cryptocurrency<\/span> slid to a Monday <a href=\"https:\/\/news.bitcoin.com\/bitcoin-stumbles-after-strategys-historic-sale\/\">low of $61,246<\/a> after Strategy disclosed it had sold <a href=\"https:\/\/news.bitcoin.com\/strategy-sells-3588-bitcoin-for-216-million-to-cover-dividend-payments\/\">3,588 BTC<\/a> for roughly $216 million to fund preferred dividends and rebuild its cash reserves to $2.55 billion. By early Tuesday, <span>bitcoin<\/span> had pumped to $64,390, recovering the entire dip in less than a day.<\/p>\n<p><\/p>\n<p>The episode challenged one of the market\u2019s long-standing fears, that the first meaningful sale by the largest corporate holder would trigger a cascade. Instead, the market absorbed the coins quickly. Grayscale Research argued the sale may actually <a href=\"https:\/\/twitter.com\/Grayscale\/status\/2074216509182996488\" target=\"_blank\" rel=\"noopener noreferrer\">reduce financing risk<\/a> and support price stability, since it rebuilt Strategy\u2019s dollar reserves to cover about 17 months of dividend payments.<\/p>\n<p>Other buyers stepped in too, with Bitmine <a href=\"https:\/\/news.bitcoin.com\/42197-eth-acquired-as-bitmine-builds-11-1b-crypto-treasury-while-strategy-sells\/\">continuing to build<\/a> an $11.1 billion <span>crypto<\/span> treasury, revealing the extent to which corporate demand has broadened beyond a single firm.<\/p>\n<h2>Wall Street Sees a Milder Bear<\/h2>\n<p>Bernstein analyst Gautam Chhugani noted that <span>bitcoin<\/span>\u2019s roughly 54% decline from its October 2025 high near $125,000 remains far smaller than the 75% to 90% drawdowns often seen near the end of previous cycles, and the Wall Street research firm maintained a constructive long-term view.<\/p>\n<figure id=\"attachment_829276\" aria-describedby=\"caption-attachment-829276\" style=\"width:772px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-829276\" src=\"https:\/\/static.news.bitcoin.com\/wp-content\/uploads\/2026\/07\/whales-open-148-million-in-leveraged-longs-as-bitcoin-reclaims-64k-after-strategys-3588-btc-sale3_nwmk.jpg\" alt=\"Bernstein discussing Bitcoin's ongoing decline since hitting its all time high late last year.\" width=\"772\" height=\"747\" srcset=\"https:\/\/static.news.bitcoin.com\/wp-content\/uploads\/2026\/07\/whales-open-148-million-in-leveraged-longs-as-bitcoin-reclaims-64k-after-strategys-3588-btc-sale3_nwmk-300x290.jpg 300w, https:\/\/static.news.bitcoin.com\/wp-content\/uploads\/2026\/07\/whales-open-148-million-in-leveraged-longs-as-bitcoin-reclaims-64k-after-strategys-3588-btc-sale3_nwmk-768x743.jpg 768w, https:\/\/static.news.bitcoin.com\/wp-content\/uploads\/2026\/07\/whales-open-148-million-in-leveraged-longs-as-bitcoin-reclaims-64k-after-strategys-3588-btc-sale3_nwmk.jpg 772w\" sizes=\"auto, (max-width: 772px) 100vw, 772px\"\/><figcaption id=\"caption-attachment-829276\" class=\"wp-caption-text\">Image source: X<\/figcaption><\/figure>\n<p>That reading postures the current market as painful but not historically extreme. <span>Bitcoin<\/span> traded around $64,000 on Tuesday, roughly half its peak, yet still well above the levels where prior <a href=\"http:\/\/www.bitcoin.com\/get-started\/bull-market-vs-bear-market\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">bear markets<\/a> bottomed relative to their highs. For leveraged longs opened near $60,000 support, it now appears as though the worst of the forced selling (be it Strategy\u2019s disposal or the recent exchange-traded fund (ETF) outflows) has already been priced in.<\/p>\n<p>Even then, highly leveraged positions near a contested support level can accelerate a decline if they unwind, turning <a href=\"http:\/\/www.bitcoin.com\/get-started\/bull-market-vs-bear-market\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">bullish<\/a> conviction into forced selling. Therefore, if the <a href=\"http:\/\/www.bitcoin.com\/get-started\/what-are-bitcoin-whales\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">whales<\/a> are right, their nine-figure bets mark the start of a durable bottom, but on the flip side, the same <a href=\"http:\/\/www.bitcoin.com\/get-started\/what-is-leverage-in-crypto-trading\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">leverage<\/a> that expresses their confidence could make the next leg down faster. Only time will tell.<\/p>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/news.bitcoin.com\/whales-148-million-longs-bitcoin-reclaims-64k\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Bitcoin News ) Key Takeaways Lookonchain tracked 3 whales opening $148.7M in longs, including a 40x position on 1,000 BTC worth $63.8M. Bitcoin rebounded to $64,312 earlier today after falling to $61,246 on Strategy\u2019s $216 million sale disclosure. Bernstein said BTC\u2019s 54% drawdown remains far milder than the 75%-90% declines of [&hellip;]<\/p>\n","protected":false},"author":3947362404,"featured_media":75057,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[32],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/75056"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/3947362404"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=75056"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/75056\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/75057"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=75056"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=75056"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=75056"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}