Whale Addresses Expand Leveraged Long Exposure in Bitcoin and Ethereum as Market Swings Intensify

Several major crypto holders added sizeable long positions during intraday volatility on March 3, BlockBeats reports. On Hyperliquid, the largest ETH long account increased BTC exposure and now holds 120,000 ETH and 550 BTC in long positions with a combined notional value of $277 million, while two new wallets received a total of 1,124.57 BTC from BitGo at 1:00 PM, worth about $77.09 million. The address "pensionusdt.eth" (0x0ddf…) built a 3x leveraged BTC long after price fell below $68,000, with its BTC position now at $66.5 million at an average entry of $67,522 and an unrealized loss of $1.08 million (4.8%), described as the largest BTC long whale onchain. Analysts and market participants including Garrett Jin, Andrei Grachev, Honey (@honey_xbt) and Bitfinex urged caution and highlighted factors such as Iran-related geopolitical risk, crude oil and U.S. rates, even as they pointed to the potential for renewed price activity and a possible short squeeze if spot demand increases.