「Silver Bullish Defector」Turns to Long ETH Amidst Initial Losses

Shift to Long Ethereum Strategy

According to monitoring by HyperInsight, the address known as the 'Silver Bullish Defector' made a strategic shift on January 28 at 12:06, entering a long position on ETH with 20x leverage. The position consists of 2,995 ETH at an average price of $3,004.87, currently showing minor losses.

Prior to this move, the same address had maintained a strong short position on silver but closed those trades 12 hours earlier at a significant loss of $4.79 million.

Transaction Analysis

This shift indicates a major change in the investor’s market outlook. After suffering losses in the silver market, attention has now turned to mainstream digital assets like Ethereum.

• Trade Time: January 28, 12:06
• Asset Traded: Ethereum (ETH)
• Leverage Used: 20x
• Position Size: 2,995 ETH
• Average Entry Price: $3,004.87

While the position is currently at a slight loss, market observers suggest this could be a strategic move, reflecting a positive outlook on Ethereum’s future price action.