Dormant Whale Returns with Massive $31M Bitcoin Leveraged Bet

A major whale wallet has just re-emerged after sitting idle for 18 months, and its opening move is significant: a 20x leveraged long position on BTC worth $31.04 million.

The Position Details

According to Onchain Lens data, this substantial bet carries considerable risk parameters. The liquidation price sits at approximately $78,900, meaning the trader could face losses if Bitcoin falls below this level. As of the latest market data, BTC is trading around $90.76K, providing roughly $11.86K of cushion above the liquidation threshold.

The position currently shows unrealized profits of about $127,400, reflecting the recent Bitcoin price movements. This profit level, while positive, is relatively modest considering the enormous notional value of the trade—a testament to the thin margins when operating at 20x leverage.

What This Signals

The reactivation of dormant whale addresses typically captures market attention. After 18 months of inactivity, this wallet holder’s decision to deploy capital with such aggressive leverage suggests bullish conviction on Bitcoin’s near-term trajectory.

The choice of 20x leverage is particularly noteworthy. Rather than taking a conservative position, this whale is betting heavily on BTC maintaining or climbing above current levels, leaving little room for downside movement before liquidation triggers.

Risk Considerations

With leverage this high, any sharp BTC pullback could spell trouble. The $78,900 liquidation floor represents only a 13% decline from current prices—a magnitude that’s entirely possible within typical market volatility. Large leveraged positions like this one can also contribute to cascading liquidations if the market turns against them.

Monitoring these whale-sized leveraged bets provides valuable context for broader market sentiment and potential price pressure points.