At 5:26 this morning, a whale opened a $9.01 million ETH long at 2,223. The position has now grown to $45.43 million, with 25x leverage.
Over the past 24 hours, on-chain perpetuals smart money bought $52.6 million worth of ETH and sold $9.51 million, for net purchases of $43.09 million—the largest of any coin.
But open positions tell the opposite story: 48 wallets are bearish and 29 are bullish, with $308 million in shorts versus less than $50 million in longs. Two old accounts that routinely hold hundreds of millions in hedging shorts make up most of that total, so the short figure looks scary, but it doesn't all mean they're betting on a drop.
My take is that this time, a single whale is buying into the market aggressively, with few people following. A 25x position is still far from liquidation, but if he lets go, it could trigger a huge red candle. If you're following him into a long, keep your leverage low—don't mistake his conviction for your own.
#以太坊 $ETH
Over the past 24 hours, on-chain perpetuals smart money bought $52.6 million worth of ETH and sold $9.51 million, for net purchases of $43.09 million—the largest of any coin.
But open positions tell the opposite story: 48 wallets are bearish and 29 are bullish, with $308 million in shorts versus less than $50 million in longs. Two old accounts that routinely hold hundreds of millions in hedging shorts make up most of that total, so the short figure looks scary, but it doesn't all mean they're betting on a drop.
My take is that this time, a single whale is buying into the market aggressively, with few people following. A 25x position is still far from liquidation, but if he lets go, it could trigger a huge red candle. If you're following him into a long, keep your leverage low—don't mistake his conviction for your own.
#以太坊 $ETH
