High-leverage whale shorts ETH, nets $1.7M profit and increases position to 30,639 ETH
A high-leverage whale who shorted Ether (ETH) realized approximately $1.7 million in unrealized profit following a market flash drop between 07:00–08:00. The trader increased the short position about 30 minutes later and now holds 30,639 ETH short (≈ $98.5 million notional) with an average short entry price of $3,271 and a liquidation price of $3,296. The report — cited by PANews and attributed to on-chain watcher YuJin — notes the position size and profit but does not identify the whale. No investment advice is offered.
Bearish
A large, high-leverage short position of this size (30,639 ETH, ≈ $98.5M notional) increases downside pressure on ETH prices, especially because the whale added to the position after a flash drop — suggesting expectation of further declines. The position’s liquidation price ($3,296) is close to its average entry ($3,271), indicating tight margins; however, a large short increases the risk of cascade liquidations if price reverses, which can amplify volatility. Historically, concentrated whale shorting has contributed to near-term downward momentum (or sharp short-covering rallies if prices spike). For traders: short-term impact is likely bearish through increased selling pressure and elevated volatility; watch open interest, funding rates, and liquidations on derivatives venues for confirmation. Long-term impact is neutral to mixed — unless multiple whales accumulate similar positions or on-chain fundamentals change, this single whale’s activity alone is unlikely to alter ETH’s long-term trajectory.