Ethereum Whale Opens $270 Million Long Position Amid Price Struggles
Recent activity among Ethereum whales increased as the price of ETH struggles to maintain above $2,000. An institutional whale opened a $270 million long position at 50x leverage.
Ethereum Whale Activity Increases
- An institutional whale (address: 0xf3…057c) entered a long position with a size of $270 million.
- The average entry price for this position is $1,896.63, with unrealized profits exceeding $3.38 million.
- The liquidation price for this trade is set at $1,877.1.
- Another whale incurred losses over $4 million after initiating a high-leverage long position of 175,000 ETH, valued at approximately $340 million.
- This position initially had a floating profit of $8 million but led to a significant liquidation due to margin withdrawal.
- Hyperliquid confirmed the incident was not due to a protocol vulnerability, explaining it resulted from lowered margin ratios after a user withdrew margin while holding unrealized profits.
Current ETH Price Outlook
- ETH has underperformed compared to the broader crypto market, reaching the lowest levels against Bitcoin since 2020.
- Analysts identify critical resistance between $2,250 and $2,610, where 12.28 million investors have accumulated over 65 million ETH.
- Some analysts suggest ETH may be oversold, indicating a potential bottom and possible rebound.
