「BFF」 on the Rise? $2,400 ETH Trimmed at the Right Time to Maintain a Safe Distance from the Liquidation Level

On April 23, prediction market platform Kalshi announced it has fined three U.S. state-level candidates and suspended their access for five years for illegally betting on the outcomes of their own election campaigns. Involved candidates: Virginia State Senate candidate Mark Moran, Minnesota State House candidate Matt Klein, and Texas State House candidate Ezekiel Enriquez. Penalty breakdown: Moran was fined $6,229 and ordered to return related trading profits; Klein was fined $540; Enriquez was fined $784. All three face a five-year ban from Kalshi. Post-incident statements: Moran claimed he intentionally violated rules to expose potential corruption on the platform. Klein said he acted out of curiosity and has since cooperated with the penalty. Kalshi emphasized that any candidate transactions capable of influencing market outcomes—regardless of size—count as violations. Recently, both Kalshi and rival Polymarket have strengthened insider trading controls.

April 23rd data from Hyperinsight (via Telegram) and Coinglass shows: - In the latest 1-hour network-wide liquidations, CHIP topped the list with ~$1.2M in liquidations, mostly from long positions. - On Hyperliquid, one address was liquidated twice over the past 4 hours, totaling $2.6M. Over the past 30 minutes, trader neoyokio.eth opened ~23.22M CHIP long positions with 3x leverage as CHIP dropped to $0.1. The position (size ~$2.2M, avg entry $0.1003) now has ~$130K in unrealized losses (-17%). Notably, this address is currently the largest ASTER long holder on Hyperliquid: it holds ~$16.7M in ASTER longs with ~$860K in unrealized gains. It also loaded up on XPL longs ahead of its first major rally on September 24, 2023. Address: 0x15271757b398cd1d3d7cca05c4f7b0c159afa7c2

On April 23rd, CryptoQuant data shows long-term Bitcoin holders have accumulated 303,000 BTC over the past 30 days, while short-term holders have sold off 290,000 BTC. This suggests Bitcoin is now in an accumulation phase, as supply is shifting to stronger hands.

April 23 data shows Ethereum (ETH) perpetual futures have seen a sharp jump in buying pressure. On Binance, ETH’s 24-hour net taker volume hit $5.5 billion—up 72% from $3.2 billion at the start of the month, and marking a new 30-day average high since July 2022. Analysts note sustained active buying suggests buyers have strong conviction at current price levels. From a price structure standpoint, ETH is testing key resistance at $2,400—a level it’s touched three times since Feb 6. A decisive break above this threshold would open the door to the $2,475–$2,634 range, where a daily Fair Value Gap (FVG) formed during February’s sell-off is viewed as a liquidity cluster. ETH is also trying to reclaim its 100-day Exponential Moving Average (EMA), a level typically linked to trend continuation phases. Its 200-day EMA is slowly rising to ~$2,634—aligning with that liquidity gap. Derivatives data: Futures’ Cumulative Volume Delta (CVD) has climbed to ~$12.6 billion, while funding rates

April 23rd — Per Onchainlens monitoring, whale address @0x58bro has deposited 3,811 ETH (roughly $9.03 million) into Binance. The whale now holds just 0.5 ETH on-chain. Additionally, the whale still maintains short positions on ETH (25x leverage) and BTC (40x leverage), with total profits of approximately $33 million on HyperLiquid.

April 23rd — Per LookOnChain monitoring, a crypto whale sold 10,829 ETH three days ago at $2,300 apiece, totaling roughly $24.91 million. One hour ago, the same whale repurchased 7,448 ETH at $2,350 each, valued at around $17.5 million. Following this swing trade, the whale has a net sell of 3,381 ETH.