Whale with $10.87 million using 5x leverage to go long on BTC, what signals does this release at this price level?

A whale just went long on 120 BTC with 5x leverage, opening the position at an average price of $90,539, totaling approximately $10.87 million. This operation occurred at 16:01 Beijing time on January 8 and is currently showing a slight unrealized profit. In the current environment of increasing market divergence and frequent whale activity, this high-leverage long position warrants careful analysis.

Breakdown of Trading Details

Core Data

Key parameters of this operation:

• Trade size: 120 BTC, about $10.87 million
• Leverage: 5x
• Entry price: $90,539
• Current price: $90,530.41
• Entry time: January 8, 2026, 16:01
• Current status: Slight unrealized profit

From the price perspective, the whale entered at $90,539, nearly the same as the current price of $90,530.41, indicating this is a very recent trade. The 5x leverage means this whale used approximately $2.17 million in margin to control a position of $10.87 million, indicating a high risk level.

Analysis of Entry Timing

Does this price level have any special significance? According to relevant information, BTC has fallen 2.34% in the past 24 hours but risen 3.36% over the past 7 days, and is roughly flat over 30 days. The $90,539 level is near a recent relative bottom.

More importantly, this long position was opened at a time of extreme market divergence.

Market Context: Intense Bull-Bear Disagreement

Recent Whale Activity Review

From recent reports, whale behavior over the past week has been diverse:

This table clearly reflects a phenomenon: whales are both long and short, some are profitable while others are stopping losses. Such divergence is rarely seen in a bull market.

Why is this happening?

Based on in-depth analysis of recent information, the market is currently in a critical psychological battle:

• On one hand, on-chain data shows large funds continue accumulating BTC. Reports mention that in the past 30 days, major investment groups net bought 270,000 BTC, equivalent to $23 billion, the most aggressive in 13 years.
• On the other hand, short-term market volatility is intense, with some whales incurring losses due to high leverage (e.g., “die-hard longs” with altcoin longs losing over $760,000).
• The result is: some whales are positioning for the long term, others are trading short-term swings, and some are cutting losses and exiting.

What Does This Long Position Mean?

Personal View

I believe this 5x leveraged long is worth paying attention to, but it should be viewed rationally:

First, it indicates that at least some whales consider $90,539 a relatively safe level to go long. Given the extreme market divergence, such bold high-leverage entry suggests certain large funds are confident in a short-term rebound.

Second, although the scale of this operation ($10.87 million) is not small, it is not massive in the overall market. In comparison, the report of net buying 270,000 BTC over the past 30 days might better reflect the market’s true direction than a single short-term high-leverage trade.

Third, looking at whale activity frequency, they are frequently entering and exiting around this price range, indicating it is a key psychological support level.

Risk Reminder

What does 5x leverage imply? If BTC drops 20%, this position could face liquidation risk. From this perspective, whales daring to go long at this price with 5x leverage either have strong confidence in a short-term rebound or are betting on a larger trend reversal.

Summary

This whale’s long position is a microcosm of the current market divergence. It is neither a definitive bottom signal nor a reason to blindly follow the trend. The key is to understand the underlying logic:

• Large funds are accumulating BTC long-term (net buy of 270,000 BTC in the past 30 days), supporting the fundamental outlook.
• Short-term market volatility is intense, with significant bull-bear disagreement indicating the market is still searching for direction.
• The $90,539 level is an important recent support, with whales frequently trading around it.

Future focus should be on whether this long position can continue to profit. If it does, it suggests the rebound may persist; if it incurs losses or gets stopped out, it indicates the market still needs more time to confirm the trend.