An Ethereum whale opened a massive long position of $16.35 million, using 25x leverage at $4,229.83. This whale is betting on a market recovery, despite increasing selling pressure.

This high-risk trade has the potential to generate over $163,000 in profit for every 1% increase in price. If ETH reaches the liquidation cluster target of $4,336, potential profits could exceed $450,000.

Ethereum ETFs suffered outflows worth $197 million on Monday, mainly due to BlackRock and Fidelity, making it the second worst day since their launch.

The cryptocurrency unlock queue reached a record $3.9 billion, with over 910,000 ETH awaiting withdrawal, generating additional pressure on supply.

Technical indicators suggest a possible rebound towards $4,750-$8,000. However, a 4.34% drop to $4,046 would completely liquidate the whale's position.