On Sunday, the United States entered the Iran-Israel conflict by targeting three Iranian nuclear sites via “Operation Midnight Hammer”. This escalation has aroused significant volatility on the cryptography market, leading to a generalized slowdown.
High challenges cryptocurrencies also felt the effects, undergoing gains and losses. This highlighted the potential risks and rewards of leverages in these uncertain times.
How cryptographic whales sail on the market in the middle of the Iran-Israel conflict
According to Beincrypto data, the overall market capitalization of cryptography fell by 3.2% in the last 24 hours, the majority of coins in red. Yesterday, Bitcoin fell below the $ 100,000 mark for the first time since May 8. This drop was launched by fears that Iran could close the Hormuz Strait after the American strike.
While Bitcoin recovered $ 100,000 to exchange $ 101,516 at the time of the press, it remained 1.2% in the last 24 hours. In addition, BTC lost 4.4% of its value in last week, the decline being even more pronounced for other altcoins.
The current market instability has led to an increase in cryptographic liquidations, several whales with the weight of the impact of Iran-Israeli tensions. Lookonchain data underlined that a whale identified by the 0x7e8b portfolio has long went to Bitcoin and Ethereum.
However, the whale has been liquidated as the market has dropped, resulting in a loss greater than $ 3.5 million.
“Due to the market accident, the 0x7e8b whale was liquidated for 965 BTC ($ 97.5 million) and $ 12,024 ($ 26.22 million), losing more than $ 3.5 million,” said post.
Despite the loss, the whale returned to the market and opened a 40 -time position on BTC. Hyperdash data has shown that this position had generated an unrealized profit of $ 1.79 million.
The blockchain analysis company also underlined the activity of Swing Trader Aguilatrades. In the past two weeks, three of the long positions of Aguilatrades have led to losses totaling $ 32.7 million.
The most recent loss occurred on June 22, when the merchant closed a long bitcoin position, incurring a $ 17 million setback. However, the trader switched to a short position on Bitcoin and managed to close it for a profit.
Nevertheless, not all traders have experienced losses. Some whales capitalized on the slowdown. A trader (Gambeler 0x51d9) obtained more than $ 9 million in the benefit of a 40x Bitcoin position, betting correctly on the drop in prices.
“He had lost a total of $ 4.96 million in his last 6 trades, but this alone has done everything,” wrote Lookonchain.
Likewise, Abraxas Capital has also become an important winner. He used two wallets on the hyperliquid platform to short-circuit BTC, ETH, hype, sui and floor with a 10x lever effect. This strategy has generated more than $ 74 million in floating profits.
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