Whale Bets $23 Million on Gold as Deutsche Bank Sees Fair Value at $4,700
A crypto whale has bet more than $23 million that gold price goes up. Deutsche Bank agrees. Its analysts put gold's fair value near $4,700 an ounce, well above Monday's price.
The gold industry's own research body disagrees. It sees gold stuck near $4,100 for the rest of the year. That gap is worth watching.
The Whale Sold Crypto to Buy Gold
On-chain monitor Mlm on-chain spotted the moves across four wallets. They belong to Loracle, one of the most watched traders on Hyperliquid.
Loracle closed a 503,000 HYPE long worth $26.5 million. He then sold another 800,000 HYPE for $52.7 million. A short of 595,000 HYPE, worth $31.4 million, took its place.
He also closed about $95 million of long bets on Ethereum, Zcash and Solana. Then came the gold long. An Ethereum short above $28 million followed.
