Crypto Whales Reel as Panic Selling Leads to Heavy Losses in September’s Market Turmoil

Jakarta, Pintu News – The market turmoil in September rattled even the biggest crypto owners, with a number of whale wallets seen frantically selling their major tokens.

The whale action resulted in millions of dollars in losses, as sentiment towards Bitcoin, Ethereum, and altcoins deteriorated since the beginning of the week.

Ethereum, HYPE, and PUMP Whales Give Up

Citing a report by BeInCrypto, the crypto market was shaken on Monday (Sep 22), with liquidation values approaching $1.7 billion – the highest figure this year according to Coinglass.

Read also: DOGE Sinks to $0.23: Double-Top Pattern Rings Alarm Bells

Glassnode noted that leverage was largely removed, signaling reduced speculative activity. This is often considered a “healthy reset” by traders, as it stabilizes the derivatives market while reducing the risk of forced liquidation.

However, on-chain data from Lookonchain shows some whales panicked and offloaded their assets amid the brutal correction.

One of them, whale address 0x3c9E, sold 1,000 ETH worth $4.19 million in a transaction that was mis-timed. This address is known for making bad decisions: buying ETH at a high price, then selling when the price drops.

“The ‘buy high, sell low’ whale 0x3c9E has again frantically sold 1,000 ETH ($4.19 million)… In the past two months, this whale has always bought ETH at high levels and then released it at low prices,” wrote Lookonchain.

This recurring pattern shows that even whales can get caught in a cycle of fear and bad timing. This phenomenon is a reflection of the crypto market volatility that continues to loom, not just on Ethereum, but other assets as well.

Whale Sells HYPE at a Loss

Another whale address, 0x09D4, offloaded 56,569 Hyperliquid tokens worth $2.67 million at an average price of $47.23 per token. This transaction locks in a loss of around $103,000, as less than a month earlier the whale bought the same tokens for $2.77 million at $49 per token.

As the price of HYPE continued to weaken in late September, the whale chose to exit its position instead of holding amid the downward trend. This action further added to the bearish pressure on the HYPE token.

Whale PUMP Loses Over Half a Million Dollars

Losses were not limited to Ethereum and HYPE. Whale BV2gzZ sold out 307.27 million Pump.fun tokens worth $1.73 million at an average price of $0.00564 per token.

Read also: Ethereum Holds at $4,100 Today as Key Resistance Levels Test ETH’s Momentum

The transaction recorded a loss of approximately $582,000, as just nine days earlier the whale bought the same token at $0.00753 per token.

This quick turnaround reflects the speculative nature of meme-based tokens like PUMP, where fortunes can change in just a matter of days, and ill-timed entry decisions can wipe out millions of dollars in value.

MrBeast Trapped Amid Market Chaos, Investor Confidence Shaken

Not only the anonymous whale, famous YouTuber MrBeast also felt the impact of the market crash. The social media personality attracted attention after backing Binance-linked DEX Aster, entering near the peak of the project’s price.

But since then, Aster tokens have plummeted 30%, and MrBeast’s entry was considered the “peak signal” before ASTER’s freefall.

This incident confirms that celebrity involvement, while capable of increasing the visibility of a project, does not guarantee that the price will hold. Especially in highly volatile market conditions, where the cycle can quickly turn against late-entry investors.

The wave of whale liquidation also coincided with September’s general market weakness, when Bitcoin and altcoins struggled to maintain momentum.

Typically, large holders act as stabilizers during market downturns. However, the recent wave of panic selling shows that fear also extends to the highs.

For small traders, this whale exodus is a reminder that a thick wallet is not always synonymous with “smart money.” Doing your own research is still the key.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• BeInCrypto. Whales Sell at Losses in September ETH Pump Hype. Accessed on September 24, 2025