Straight from the depths of the crypto ocean, a whale has surfaced. Not just surfaced — but has taken a short position on Ethereum. Huge. For 40,000 ETH. Why did he do this? Who is he anyway? Could it be Sam Bankman-Fried with a new SIM card? Or some boss from JPMorgan in a kimono lying on a liquidity bed?
But let's get to the facts.
The whale that bet against everyone
According to Lookonchain (and more people trust these guys than their own bot on Bybit), some whale has shorted ETH for a total of 40,000 coins. That's more than some 'experts' on Crypto Twitter IQ. He added 3.37 million USDC to the position, reinforcing the bet on a decline. All would be fine, but now — attention — his unrealized loss has already exceeded $2.5 million. It’s as if he bought a Lamborghini, crashed it into a wall, and continues to press the gas hoping that the wall will give in.
Liquidation price? $2,938.20
If ETH reaches $2,938.20, this epic short story will end with the words: “Sorry, your margin has been liquidated.” And do you know what will happen next? Margin orders will trigger, and the whale will experience a short squeeze so powerful that it will be visible from Elon Musk's orbit. The market will jump up as if it just heard that the ETF for Solana has been approved.
Classic from the crypto elite: made a mistake — add to the position!
This is old school. Losing? Double down! Don't believe in ETH's growth? Well then, pledge everything you have left of stable sanity and short again. It's like arguing with Jim Cramer and betting on the opposite side — only the other way around and without a sense of humor.
But maybe it's a conspiracy?
Let’s think: why is someone so stubbornly shorting Ethereum at a moment when institutions are licking their lips over ETFs, the Layer-2 ecosystem is on steroids, and Vitalik Buterin has worn a shirt without holes for the first time? Either the whale has insider information, or he is confident that he can create a 'double bottom'... on his own account.
