- Whale sold 2,056 ETH worth $3.27M at $1,591.
- Opened a 10x leveraged short position on Ethereum.
- Indicates strong bearish sentiment from major holder.
Whale Makes Bold Bearish Move on Ethereum
A crypto whale has made headlines after selling 2,056 ETH—worth approximately $3.27 million—at a price of $1,591 per ETH. In a dramatic follow-up, the same whale opened a 10x leveraged short position on Ethereum, betting heavily that the price will fall further.
This kind of move by a large holder can send ripples through the market. Whales are often seen as having inside knowledge or at least a sophisticated understanding of market trends. So when a major player offloads such a large amount of ETH and doubles down with a leveraged short, it’s a strong signal of bearish sentiment.
What a Leveraged Short Means for Ethereum
A 10x leveraged short position means the whale is borrowing funds to multiply their potential profit if ETH’s price drops. However, it also greatly increases their risk—if Ethereum’s price rises instead, they could face heavy losses or a liquidation of their position.
This aggressive bet suggests the whale expects a significant downward move, possibly triggered by broader market weakness, macroeconomic news, or upcoming events that could negatively impact Ethereum’s price.
Such trades can influence other investors, especially when whale activity is tracked closely across social media and analytics platforms. If others follow suit, it could contribute to further downward pressure on ETH.
Market Watching Closely for Reactions
While this move alone doesn’t guarantee a price drop, it does raise eyebrows. Traders and analysts will be closely monitoring Ethereum’s price action in the coming days, as well as the whale’s wallet and positions.
The short-term future of Ethereum may hinge on whether this bearish play proves to be smart foresight—or a costly misstep.
