ETH Whale Shorts Rise to 7,692 ETH as Profit Hits $4.62M
On Nov 5, on-chain analysis revealed a prominent ETH whale added 259.83 ETH to its Ethereum short position, bringing total shorts to 7,692.77 ETH at an average $3,300.7 entry and a liquidation price only $58 above the market. This move signaled rising bearish sentiment and liquidation risk among large holders.
By Nov 10, following Ethereum’s brief dip to $3,600, the whale’s unrealized short profit jumped to $4.62 M, including $3.1 M gained over the week and a cumulative $102 M. Crypto traders should monitor this ETH whale’s positions and the critical $3,600 support level for potential volatility and trading opportunities.
Bearish
This news underscores a significant bearish outlook for Ethereum, as a major ETH whale has steadily increased its short position and realized substantial unrealized profits. The growing short exposure to 7,692.77 ETH at an average $3,300.7 entry, combined with a liquidation price just $58 above market, highlights elevated liquidation risk and ongoing downward pressure. In the short term, Ethereum may face heightened volatility around the $3,600 support level as traders react to potential forced liquidations. Over the longer term, sustained whale bearish sentiment could cap rallies and limit upside potential unless substantial buying interest emerges.