An Ethereum whale opened an $11.15 million leveraged long position while the ETH price broke out of the bull flag formation. This move strengthened bullish expectations in the market. Options data also indicate that prices will rise in the short term.
A whale opened an $11 million leveraged ETH long position
On June 10, a whale holding 4,000 ETH with 25x leverage took a total long position of $11.15 million around $2,758. This position reached approximately $366,000 in unrealized profits as the ETH price rose above $2,850 on June 11.
The liquidation level of the position is set at $2,466; this indicates a strong confidence of the whale in the upward movement, while also showing that the margin of error is relatively narrow.
Ethereum Options Indicate a Short-Term Rise
In the Ethereum options market, bullish signals have become evident in the last 48 hours. The price difference between bullish call options and bearish put options, represented by the 25 delta curve, sharply turned negative since Monday.
According to Glassnode data, the 1-week options curve declined from -2.4 to -7, while the 1-month curve fell from -5.6 to -6.1. This situation indicates that the demand for call options has increased in the short term, and investors are taking positions with expectations of price increases.
ETH Exited the Bull Flag, Strengthening Expectations of a 30% Rise
Ethereum has gained more than 100% in value in the last two months. The Pectra upgrade that took place in early May and the restructuring of the foundational event at the beginning of June played significant roles in this rise.
Last Monday, ETH broke the upper boundary of the bull flag formation and there was an increase in price and trading volume. This technical breakout supports investors' strong expectations that the price of ETH will rise by about 30% to reach $3,670 by the end of June.
Analysts and Positive Predictions from Fractal Models
Leading institutions like Standard Chartered expect ETH to reach $4,000 by 2025. Additionally, some fractal analyses, particularly models associated with gold prices, suggest that Ethereum could rise to the $5,000-$6,000 range in the coming months.
These developments provide strong signals that the upward trend for ETH will continue. However, it is important for investors to be cautious due to high volatility.
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