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Ethereum Price in Focus as Major Trader Increases Risky Long Position
Ethereum Whale Doubles Down – One of the most closely monitored high-risk crypto wallets has made a bold move that is capturing the market’s attention. The trader known as BitcoinOG (1011short) has significantly increased an already massive Ethereum (ETH) long position, adding 12,406 ETH and bringing total exposure to approximately 203,341 ETH, valued at around $577.5 million.
A Heavily Leveraged, One-Sided Bet
Beyond Ethereum, the wallet also holds 250,000 SOL worth roughly $30 million and 1,000 BTC valued near $87 million, both under leveraged positions. There is no hedging in sight. The strategy is entirely one-directional, relying on heavy margin usage at a time when the broader crypto market has been struggling to regain momentum.
The volatility of this approach is evident. Just weeks ago, the wallet was sitting on more than $120 million in unrealized profit. Today, it is down over $70 million, underscoring the extreme risk profile of the trade.
What This Means for Ethereum’s Price Action
Despite the size of the position, its existence alone does not instantly turn ETH bullish. Large positions influence markets primarily when they are forced to react, not simply because they exist. As long as the wallet remains solvent, it may act as a temporary stabilizing force, slowing downside momentum or triggering short-term price bounces.
However, the flip side is more concerning. This massive exposure significantly increases liquidation gravity. If Ethereum continues to decline and approaches the wallet’s liquidation zone, volatility could spike sharply. A forced unwind of even part of a $500+ million ETH position would ripple rapidly through funding rates, order books, and market sentiment.
A Bet on Stabilization, Not a Breakout
This trade reflects a belief that Ethereum may be closer to a local bottom rather than an imminent breakdown. Momentum remains weak but not collapsing, RSI levels are not extreme, and ETH is hovering near potential demand zones. The focus appears to be survival first, with recovery as a secondary goal.
As Ethereum hovers at this critical juncture, one thing is clear: big money has made its move, and the market is unlikely to stay quiet for long.
