Ethereum Whale Makes Big Bet with $16.35M Leveraged Position
14:15 ▪ 5 min read
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Altcoins
Ethereum (ETH) has fallen more than 4% in the last 24 hours, trading just above $4,150. Despite this recent decline, large traders and whales continue to make substantial bets, signaling confidence that the cryptocurrency's drop may be temporary. Their positions suggest expectations of a recovery to higher levels, even as the market navigates key support zones.
In Summary
A whale opened a leveraged long position of $16.35M at $4,229.83 per ETH.
Short positions are clustered between $4,300 and $4,360, creating possible buying pressure.
Other whales bought $192M and $70M in ETH during the drop, showing confidence.
High-Risk Bet on Ethereum’s Recovery
Crypto analyst Crypto Rover reported that a major holder of Ethereum opened a long position of $16.35 million at $4,229.83 per coin, using 25 times leverage. It’s a high-risk play that amplifies both potential gains and losses.
At current prices near $4,122, the trade is already in negative territory. The liquidation point is set at $4,046, leaving only a small margin before the position closes automatically. However, the bet is based on the expectation that ETH will recover to higher levels where short positions are heavily concentrated.