Ethereum whale opens $16.3M long as ETH price eyes bounce

Some large traders are raising the stakes and putting money on ETH price avoiding a trip below $4,000 and rebounding toward $4,300 soon.

• ETH price has a short liquidation cluster “magnet” at $4,300–$4,360.
• Ether price technicals support the case for a rally toward $4,750–$8,000.

An Ethereum whale has opened a massive $16.35 million long position on Ether, using 25x leverage, in what looks like a bold wager that the latest dip is over.

1% price ETH gain equals $163,000 in profit

The position, entered at $4,229.83 per ETH, is already slightly in profit with ETH trading just above $4,240. At this scale, a mere 1% rise from the entry would add over $163,000 in profit.

Short liquidations were concentrated between $4,300 and $4,360, with a particularly high concentration near $4,336. The market is often attracted to such liquidity “magnets” as market makers look for stop-loss points.

Strategically, this means ETH doesn’t need a full-blown breakout to validate the whale’s trade. A simple push into the $4,336 liquidity pool could generate multimillion-dollar paper gains.

The whale’s position could be up by nearly $450,000 in unrealized profit if ETH hits that level.