Anti-CZ Whale Loses $61M Profit Amid Ethereum, XRP Market Downturn

Ethereum has broken below key support levels, signaling potential market weakness. Both Bitcoin and major altcoins have lost critical technical zones, indicating a possible bear market. ETH is trading at multi-month lows amid cascading liquidations and declining investor confidence.

In 10 days, a trader known as the "Anti-CZ Whale" saw $61 million in profits evaporate due to adverse market conditions.
This trader previously profited from shorts but faced significant losses as the market corrected, reducing total profit to $38.4 million.
The situation highlights the pressure on Ethereum and the swift change in market sentiment when support levels fail.

ETH Price Analysis: Critical Support Levels

Ethereum is testing the $2,680 region, a crucial weekly support zone, following a rejection from the $4,500 level earlier in the quarter.
The 50-week moving average has been decisively lost, with ETH now sitting on the 100-week MA, historically a pivot during corrections.
Increased volume indicates forced selling driven by fear, with liquidity thin and volatility high across major cryptocurrencies.
A break below $2,650 could lead to a retest of the $2,300–$2,400 zone, which was a strong accumulation area in past cycles.
ETH is entering historically oversold territory, similar to mid-2022 and late-2023, where reversals formed after compression periods.

Maintaining current support is vital for Ethereum to avoid further declines and preserve recovery potential.