Ethereum Whale Enters $44M Long Position
An Ethereum whale has returned to the market after a seven-month period of inactivity to open a 25x leveraged long position on 18,587 ETH, valued at approximately $44.85 million. According to AMBCrypto, the large transaction comes as Ethereum continues to face strong resistance around the $2,500 price level.
Trading data indicates that Ethereum has recently traded between $2,300 and $2,400 following a rejection at $2,567. The broader market reflects considerable volatility as derivatives traders absorb liquidation pressures. CoinGlass figures cited by AMBCrypto show that over $63.6 million in long positions were liquidated compared to $12.6 million in shorts during the recent price contraction.
Despite the elevated liquidation risks, sentiment among leveraged traders on major exchanges such as Binance and OKX remains heavily skewed toward long positions, with the Long/Short ratio holding above 1. At the same time, technical indicators reveal conflicting signals across the market structure. The Relative Strength Index and the Moving Average Convergence Divergence both formed bearish crossovers, signaling increased aggression from sellers in the spot market.
Concurrently, on-chain tracking from Lookonchain highlights that a separate spot whale has aggressively offloaded assets, depositing over 103,000 ETH worth $253 million across multiple exchanges, with substantial holdings still remaining in the source wallet. Market analysts note that if bullish derivatives capital deployment continues, demand could help Ethereum challenge the $2,500 threshold once again. Conversely, persistent selling pressure from spot distributions and bearish momentum indicators could drive the altcoin down toward support levels near $2,200.
Based on reporting by ambcrypto.com.
