Whales are at it again: BTC long positions closed, large ETH position adjustments, and ongoing fluctuations in the funding market

LiquiditySurfer · 2026-01-21T13:16:12+00:00

January 21st, on-chain whales frequently manipulate the market. On the bullish side, pension-usdt.eth cleared Bitcoin long positions and switched to short ETH, while another whale built a position of 20,000 ETH; on the bearish side, whales closed ETH short positions and increased Bitcoin holdings, nemorino.eth sold 3,000 WETH. Market sentiment fluctuates, and capital flows are pulling in different directions.

LiquiditySurfer

2026-01-21 13:16:12

Abstract generation in progress

【Blockchain Rhythm】On January 21st from 10:00 AM to 8:00 PM, on-chain whale trading activity was really busy.

From a bullish perspective, a swing trader called pension-usdt.eth completely cleared their Bitcoin long positions and reversed to short ETH with 3x leverage, totaling $73.52 million. At the same time, a giant whale who had earned $98.18 million through swing trading suddenly built a position of 20,000 ETH, seemingly betting on a rebound. Additionally, the wallet known as the “largest on-chain gold bull” took profits on a PAXG position, netting $330,000, but its holdings shrank significantly from $7.3 million to $3.58 million.

On the bearish side, there was no rest either. The same whale known for reversing positions closed their ETH short, making a profit of $1.312 million, then turned around to increase their Bitcoin long position. Another swing trader, nemorino.eth, sold off 3,000 WETH, indicating a possible liquidation.

From the trading logic of these major players, market sentiment still seems to be testing repeatedly. Some are accumulating longs, some are building long positions, and others are shorting, showing a tug-of-war in the capital flow.

BTC1,2%

ETH1,74%

PAXG-0,35%

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VitalikFanAccount

· 11h ago

Whales are really playing heartbeat, sometimes more, sometimes empty, I can't keep up with the rhythm. That old guy in pension directly cleared BTC and went short on ETH, this move is a bit ruthless, it seems he's really bearish. That giant whale who made over 98 million is still going all-in, really daring... but if there's a rebound, he might really be able to profit.

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WalletManager

· 11h ago

73.52 million USD to buy out ETH? That's a pretty aggressive move, using 3x leverage in return... However, I understand why pension guy cleared his BTC longs; the risk level is too high. What's really interesting is that the whale who made 98.18 million still dares to build 20,000 ETH. Is this bottom-fishing or just a pure rebound gamble? I need to check how the multi-signature wallet on the chain is configured; such a level of position movement definitely requires proper auditing.

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RugPullProphet

· 11h ago

It's another day of whale chaos, and this time it's really getting intense. That guy from pension has some serious guts, directly going 3x short in a counter move, and many are betting on a rebound. We'll see whose luck holds out. A wave of 1.31 million profit, and I'm still here idling. This market is truly alive; the whales never get tired of playing.

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SeasonedInvestor

· 11h ago

Whales are really busy today, the rhythm is like dancing—clearing out, shorting, reversing, adding positions… I’m getting dizzy just watching. Is this a psychological game? Brothers, have you figured it out? Why are these moves so repetitive? Can they really make money or are they just hurting each other? This guy from pension directly cleared BTC to short ETH—he’s really bold. I wouldn’t dare to play like that even if I were scared to death. That whale who made over 98 million is building a position in ETH again. Did they see some opportunity, or is it just pure anger? With the constant fluctuations in the capital market, retail investors need to be more cautious.

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FreeRider

· 11h ago

Whales are really dancing today, one turn and a backhand, it's dazzling me. That guy from pension cleared BTC and went short on ETH, is he trying to bottom out or just bearish... The one worth $98.18 million, is it building another 20,000 ETH? Brothers, is this a bet or is there some insider information? Anyway, I'm just sitting back and watching the show, waiting for which whale will flip over. This wave of capital flow feels like someone is about to take over the position.

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governance_lurker

· 11h ago

Whales really can't stay idle for a day, flipping left and right. Their speed is even faster than when I usually go grocery shopping. This guy from pension cleared out BTC and then went short on ETH with 3x leverage. How strong must his mentality be... I just watch and don't dare to imitate. That giant whale who made over 98 million still dares to buy ETH, truly greedy and insatiable, like a snake swallowing an elephant.

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