Ethereum Whales Place $100M Leveraged Bets Amid Geopolitical Uncertainty
Major Ethereum whales have taken significant positions totaling over $100 million on Ether price recovery, despite escalating Middle East tensions. This bullish move contrasts with most professional traders currently holding short positions in the cryptocurrency market.
Whale Activity Details
One prominent investor opened a $101 million long position with 25x leverage at $2,247, risking liquidation below $2,196. While generating $900,000 in paper profits, the position has accrued $2.5 million in funding fees. Separately, another whale withdrew $40 million in ETH from Binance, accumulating $112 million in total holdings.
Market Context and Analysis
Ether recently fell to $2,113, its lowest in a month, following U.S. military strikes. Binance Research analysts note market direction depends on geopolitical developments, while record ETH staking levels suggest investors prefer earning yield over selling at current prices.
Market Outlook
With 64% of top traders shorting Bitcoin and Ether, caution prevails. However, whale activity and growing staked supply indicate underlying confidence in Ether’s fundamentals. Market watchers await clearer signals as the situation develops.
