Overview
- On-chain analysts reported roughly $255 million in leveraged longs across Bitcoin and Ethereum within hours of President Trump confirming an October 31 Trump–Xi meeting at APEC.
- Wallet 0x89Da was flagged for a 25x long on 21,966 ETH worth about $99.5 million, with prior data showing an 81% win rate across 53 tracked trades.
- Bitcoin and Ethereum advanced in low single digits, and the total crypto market value rose by roughly $100 billion during the rebound.
- The same trader or linked addresses later opened an estimated $76 million Bitcoin short at 10x leverage, pointing to a hedged or volatility-focused stance.
- The moves follow a tariff-driven sell-off that produced about $19 billion in crypto liquidations, with traders now eyeing the Federal Reserve’s Oct. 28–29 meeting and potential ETF decisions as near-term catalysts.