A crypto whale has opened $255 million in Bitcoin and Ethereum long positions as markets react to signs of easing U.S.-China tensions.
Summary
- Insider whale opened $255M in BTC and ETH longs after Trump confirmed a meeting with Xi Jinping.
- Market up 3% as traders price in easing U.S.-China tensions.
- Fed rate cut and ETF approvals seen as near-term tailwinds.
On Oct. 20, on-chain analyst Wimar.x reported that an insider with a perfect trading record opened large leveraged longs on both Bitcoin and Ethereum.
Another on-chain analyst, Emelu.eth, flagged a major position by wallet 0x89Da, which opened a 25x leveraged long on 21,966 ETH ($99.5 million). The address has a prior win rate of 81% across 53 trades and has generated over $2 million in realized profit.
Whale activity follows Trump’s China meeting confirmation
The timing of these moves coincided with U.S. President Donald Trump’s confirmation that he will meet with Chinese President Xi Jinping on Oct. 31 at the APEC Summit in South Korea. Trump called Xi a “very strong leader” and said the meeting aims to achieve a “fair deal,” marking a break from recent tariff disputes that rattled global markets.
The talks are expected to focus on tariff rollbacks, resumption of U.S. agricultural exports, and rare earth export restrictions, issues that have weighed on both economies.
Bitcoin, Ethereum rebound as traders bet on easing tensions
The announcement helped spark a rebound in digital assets. The global crypto market cap rose 3% in the past 24 hours to $3.8 trillion. Bitcoin climbed 1.2% to trade above $110,000, while Ethereum gained 2% to $4,041. The Crypto Fear & Greed Index remains at 29, indicating continued caution but improving sentiment.
Upcoming catalysts include the Federal Reserve’s Oct. 28–29 meeting, where a rate cut of 25 basis points is expected, and the possible approval of ETFs for altcoins like XRP and Solana. Experts predict that these elements, along with a reduction in trade tensions, may prolong the recovery until the end of October.
