Whale Opens $12.7M ETH Long with 20x Leverage Amid Drawdown! 🚨🐳

A known "perp-to-spot" whale just opened a 4,046.83 ETH long position. This significant trade, valued at $12.72M with 20x leverage, is already facing a floating loss of –$240.4K.

The liquidation price for this position is set extremely low at $738. This wide buffer suggests a high-conviction setup, despite the aggressive leverage. The Entry reflects a bold attempt to time ETH volatility.

Historically, this whale's performance has sharply deteriorated. Their overall PnL now stands at –$5.24M, a significant drop from a +$7M peak in September 2023. This reversal highlights a recent downturn in trade accuracy.

Is this new 20x long a comeback attempt? Or could it lead to a deeper losing streak? 📉🤔

#Ethereum #ETH #LeverageTrading #CryptoWhale