Last night, ETH dropped from 2534 to 2386, then rebounded to 2421; over 24 hours it fell 1.47%. But more worth talking about than the price swings is a whale’s on-chain move.
Reports say someone opened a 10x ETH long position worth $102 million and is already up $1 million. Another source added details: the liquidation price is only $2,241—meaning there’s about 7% room before liquidation from the current price. With 10x leverage, $102 million, and a liquidation level of $2,241, this implies the whale assesses the probability of ETH breaking below $2,241 as extremely low. Either he knows something we don’t, or he’s using real money to bet that the weekly and monthly closes won’t break.
As for the chart: the cross-section price is 2421. The whole market OI is $32.09 billion (13.25 million ETH), and the funding rate is 0.007%—slightly bullish. The daily chart is clear: on 8/19, price surged from 1885 up to the 2535 peak on 8/27, then retreated back to 2421 over the following four days to find support. After two weeks, it’s up 33%, and it’s now digesting that gain.
One big account provided broader context: “BTC returns to 79,000, ETH regains 2,500. Weekly closes today, monthly closes tomorrow—high volatility expected.” Another big account was even more direct: “If BTC holds steady, the next move for ETH and SOL is upward.”
There’s also a long-term take from a major voice: “The ETH/BTC ratio has compressed for 10 years. Once it breaks out, it will be the biggest altseason in history.” Currently, ETH/BTC is roughly 0.031—definitely compressed in a historically low range.
There’s also an on-chain detail. On-chain monitoring spotted 193 million USDC moving back and forth between Aave—suggesting large funds are rebalancing within DeFi. They may not be buying ETH directly, but it does show on-chain activity is still active. Someone added another point: RLUSD (Ripple’s stablecoin) on Ethereum has a supply exceeding that on XRPL, with a 93% increase over 30 days. Even Ripple’s stablecoin is flowing to Ethereum.
2400 is the watershed: hold it to look toward 2500 again, but if it breaks, the outlook shifts to 2300. That 10x whale with $102 million has drawn the line at 2241—are you betting with him on the bottom, or betting on the rebound for the top after a pullback?
$ETH #Ethereum #Ethereum