Whale Makes Strategic Move After Profitable Trade
According to the latest data from Onchain Lens, a major Ethereum whale with the address '0x521' has executed two significant trades that have drawn market attention.
The trader first closed a 25x leveraged long position in Ethereum, securing a substantial profit of $925,700. This move highlights their ability to capture gains at a strategic moment.
Shifting to a Bearish Position
Shortly after, the whale opened a new 20x leveraged short position with a total of 9,964 ETH, which has a liquidation price around $2,230.
- Profit from long: $925,700
- New short leverage: 20x
- Position size: 9,964 ETH
- Liquidation level: ~$2,230
This shift in strategy indicates a cautious, if not outright bearish outlook for Ethereum in the short term. Such a move could signal potential concerns about near-term price action to the broader market.