Crypto Investigator ZachXBT Claims to Have Identified 50x Hyperliquid Whale
Crypto investigator ZachXBT has reportedly identified the individual behind the notable “50x Hyperliquid Whale,” a trader known for significant leverage trading activities in the crypto market.
Retail Investors Already Active via ETFs, Says CryptoQuant CEO
Bitcoin bulls expecting a further market peak driven by retail investors might be mistaken, according to CryptoQuant founder and CEO Ki Young Ju. In a recent post on X (formerly Twitter), Ju argued that retail investors have already entered the market through Bitcoin ETFs, a channel not fully visible through traditional on-chain metrics.
“The idea that the cycle isn’t over just because on-chain retail activity is absent needs reconsideration,” Ju stated. He explained that retail investors are increasingly using ETFs, which he described as the “paper Bitcoin layer,” making their activity less visible on-chain.
Spot Bitcoin ETFs Attracting Retail Investors
Since the launch of spot Bitcoin ETFs in January 2024, inflows have reached approximately $35.88 billion. Ju highlighted that around 80% of these ETF inflows originate from retail investors, a trend previously noted by Binance analysts in October last year.
Binance analysts had earlier suggested that retail investors were shifting their Bitcoin holdings from wallets and exchanges into ETFs due to enhanced regulatory protections.
Bitcoin Bull Cycle Possibly Over, Says Ju
Ju recently sparked debate by declaring the Bitcoin bull cycle over on March 17. Clarifying his statement, he explained that he does not foresee an immediate crash but rather a prolonged period—possibly 6 to 12 months—before Bitcoin surpasses its previous all-time high.
He cited macroeconomic factors and liquidity indicators as reasons for his bearish outlook, noting a lack of new liquidity entering the market.
Retail Interest Indicators Declining
Several indicators suggest declining retail interest:
- The Crypto Fear & Greed Index currently stands at 31 (“Fear”), down from a neutral score of 49.
- Google search trends for “crypto” have dropped by nearly 62% since Bitcoin’s all-time high in January.
- Bitcoin is currently trading approximately 22% below its January peak of $109,000.
Key Points:
- ZachXBT claims identification of the “50x Hyperliquid Whale.”
- CryptoQuant CEO Ki Young Ju argues retail investors are already active via ETFs.
- Spot Bitcoin ETFs have attracted significant retail inflows since January 2024.
- Ju believes the Bitcoin bull cycle has ended, predicting a prolonged period before new highs.
- Retail interest indicators, including Google searches and sentiment indexes, show declining enthusiasm.
This article does not constitute investment advice. Readers should conduct their own research before making investment decisions.
