Major eagles BTC and ETH face difficulties as market adjusts before NYSE opening hours

Recently, major players in the cryptocurrency market experienced significant losses as the market declined during the early trading session before the NYSE opened. According to Hyperinsight, the largest whale addresses on BTC and ETH shifted from profit to loss within a short period, reflecting the market’s high volatility.

Large Long Positions Turned to Losses

The account “pension-usdt.eth” holds a long position in BTC with 3x leverage, totaling $66.8 million. At an average price of $66,800, the unrealized loss on this position is currently around $30,000. This is a typical example of how large accounts must accept losses when the market moves against their expectations.

Similarly, the account “ETH Swing Master” is also under pressure with a long ETH position using 15x leverage. This position is valued at $139 million, with an entry price of $1,991, and is currently experiencing an unrealized loss of about $1,000.

High Leverage Is a Double-Edged Sword

From these examples, we can see the potential risks of using high leverage in crypto trading. While profits can be amplified, so can losses. A small price adjustment can quickly turn into significant losses for highly leveraged positions.

Market Context and Current Whale Behavior

The decline during the early NYSE session is evidence of market instability. The previous large positions of these whales were built on market optimism, but when forecasts change, these positions can rapidly lose value. This serves as a reminder that in the crypto market, nothing is certain, and large accounts are subject to the same risks as anyone else.

Currently, new whales are forming based on a more cautious approach, where major traders are weighing their decisions more carefully before acting.