Whale Shorts 5M XRP, Bitcoin Could Hit $10K, Ethereum Stakes $100M

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Hyperliquid Whale Sells Five Million <a href="https://bbg-news.com/xrp-usd/">XRP</a> in 20x Short Deal, Japanese <a href="https://jpyeur.com/btc-usd/">Bitcoin</a> Researchers See $10,000 <a href="https://bbg-news.com/btc-usd/">BTC</a> as Worst-Case Scenario, <a href="https://bbg-news.com/eth-usd/">Ethereum</a> Foundation Stakes Nearly $100 Million in Ether: Morning Crypto Report

TL;DR

  • XRP whale short: A major player on Hyperliquid opened a $6.5 million short on XRP with 20x leverage, targeting a $1.94 liquidation level amid Easter volatility.
  • Bitcoin to $10,000 warning: XWIN Research Japan warns of an extreme “black swan” scenario, where Bitcoin could hit $10,000 if global liquidity collapses.
  • Ethereum staking shift: The Ethereum Foundation moved 70,000 ETH ($143 million) into staking, signaling a new treasury model to fund operations.
  • Crypto Market Outlook: BTC battles the $67,000 level as a “liquidity vacuum” from the holiday weekend increases the risk of sharp technical breakdowns.

Whale on Hyperliquid opens aggressive short on 5 million XRP with 20x leverage

As U.S. financial markets closed for the Easter holiday, significant traders on the Hyperliquid platform made a large bet that the price of XRP – currently the fourth-largest cryptocurrency – would fall. Data from CoinGlass shows this “short” position totaled five million XRP.

A large trader, often called a ‘whale,’ opened a $6.59 million position in XRP using 20x leverage at $1.30 per token. Although the price has slightly recovered since then, resulting in $85,000 in unrealized losses, the position is currently safe. The price would need to fall to $1.94 before the position would be automatically closed to limit further losses, and the trader has a 49% buffer before reaching that point.

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This entity isn’t just targeting XRP. The same digital address also has significant short positions in Solana, valued at $4 million, and HYPE, worth $9 million. Altogether, these open positions total over $31.43 million.

Even though many traders are betting against it, using 20x leverage on XRP is incredibly risky. Good news about the Clarity Act, or a surprise from Ripple, could quickly cause a ‘short squeeze.’ This means the price of XRP could jump sharply, forcing large traders to buy back their positions to limit losses, which could then drive the price even higher.

Currently, the whale’s investment is worth around $4.95 million, which is enough to keep the trade active even though it’s currently losing money. However, the market could become very unstable over the Easter weekend, and this could significantly impact the whale’s strategy, potentially leading to further losses.

Japanese analysts consider Bitcoin drop to $10,000 a worst-case scenario amid global liquidity crisis

My team at XWIN Research Japan, working with CryptoQuant, recently released an urgent report. We identified a serious flaw in how the digital asset market is currently structured, and we wanted to make sure everyone was aware of the potential risks.

If conflicts in the Middle East worsen and major shipping lanes are blocked, Bitcoin’s price could potentially fall to $10,000, according to their research. This prediction is based on data showing a significant increase in activity on the CME Futures market, specifically open interest reaching 18,000 to 20,000 Bitcoin.

The problem is that many positions are held using short-term contracts. Experts point out that the current price isn’t driven by actual demand, but by speculative trading. This creates a dangerous situation: if the market faces pressure, these positions could be quickly closed, leading to a rapid and significant drop in price.

Recent developments on April 1st, coinciding with a change in how the U.S. is communicating, have already caused investors to pull money out of riskier investments. The price of WTI crude oil jumped over 11% to $111, which is likely to increase inflation. The dollar is also getting stronger, and market volatility, as measured by the VIX, has risen to 25.

The research identifies three correction levels depending on how the situation develops: 

  • Moderate scenario points to $50,000 per Bitcoin, representing a standard 25-30% correction. 
  • Critical scenario suggests a range of $20,000-30,000 under continued weak spot demand and capital outflows. 
  • The extreme “black swan” scenario envisions Bitcoin falling to $10,000. This outcome would require a prolonged regional conflict, oil prices reaching $150-200, a collapse in global liquidity and an 80% drawdown in Bitcoin. 

With the end of XWIN, it’s clear that Bitcoin isn’t acting as a secure investment during uncertain times. It still largely relies on available money in the market, and recent global events have highlighted its underlying weaknesses.

Ethereum Foundation shifts to staking strategy, with nearly $143 million in ETH locked

A significant recent development in the crypto market is the Ethereum Foundation—the driving force behind Ethereum, the second-largest cryptocurrency—placing a large amount of ETH into staking.

Data from Arkham shows that a total of 70,000 ETH, worth $143 million, has now been staked. The final step of a plan launched in March was completed today. The funds were sent in several transactions from a secure wallet to the Ethereum staking contract.

As a researcher tracking the Ethereum Foundation’s finances, I’ve found they currently manage assets worth almost $271 million. The vast majority of this – around 241,000 coins – is held in Ether itself, with the rest in the form of wrapped staking derivatives.

The Ethereum Foundation has sometimes been criticized for selling off large amounts of its ETH. However, starting in 2026, they plan to support the network by staking their ETH and earning rewards instead. They expect these rewards to cover most of their yearly costs, all without needing to sell any of their main ETH holdings.

As a researcher, I’m particularly fascinated by whether this method will evolve into a sustainable funding model for crypto protocols. Essentially, it’s an experiment to see if a protocol can fund its own development simply by participants using its consensus mechanism – and it’s one of the most interesting things happening in the crypto space right now.

Crypto market outlook: Can BTC hold during Easter liquidity vacuum?

Bitcoin is currently trading at around $67,000, down about 1.7% over the last day. The price has been struggling to stay above $70,000 and is currently facing some downward pressure.

Key drivers at the moment include: 

  • The escalation of U.S. rhetoric regarding the conflict in the East, which has triggered a sell-off in risk assets. 
  • The market is frozen in anticipation of the release of U.S. job data, which will determine the Federal Reserve’s future interest rate policy by the end of April. 
  • Easter holidays and Good Friday, due to which trading on CME markets and spot ETFs is paused, creating a liquidity vacuum and making Bitcoin vulnerable to sharp movements.
  • The draft of the Clarity Act is also expected to be released soon, which could become a foundation for comprehensive stablecoin regulation in the United States. 

If Bitcoin stays above $65,000, especially with limited trading activity during the holidays, it could mean the price has bottomed out for now. However, if it falls below that level, the price could quickly drop to around $60,000, potentially by this weekend.

Despite all the global uncertainty and ongoing conflict, Bitcoin isn’t acting like a secure investment. Instead, it’s behaving like a risky, high-growth tech stock.

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2026-04-03 16:15