7-Year BTC Whale Clears 2 ETH Longs, Nets $39M in 3 Days
An ancient BTC whale, dormant for seven years, has cleared two of its five ETH long positions, netting $39.36 million over three days, according to on-chain data from @ai_9684xtpa. This BTC whale still holds three ETH longs totaling 40,211.81 ETH with an unrealized profit of $11.17 million. Additionally, address 0x3f7...28027 reduced its ETH exposure in the past hour. This significant profit-taking by a major whale may influence ETH futures demand and contribute to short-term price volatility, prompting traders to watch for further whale activity and potential shifts in market sentiment.
Bearish
In the short term, the profit-taking by a major BTC whale on ETH longs can increase selling pressure on Ethereum markets, potentially leading to downward price movement. Large-scale liquidation often signals waning bullish sentiment among high-net-worth holders, analogous to past events where whale sell-offs preceded temporary ETH pullbacks—such as the August 2022 whale profit-taking that triggered a 5% drop. However, since the whale retains three substantial ETH longs, long-term bullish narratives remain intact if bullish holders hold on. Traders should monitor on-chain whale flows and futures open interest for signs of continued deleveraging. Overall, this news tilts short-term market dynamics toward bearishness, although long-term ETH fundamentals are unlikely to be materially affected by a single entity’s rebalancing.