This Whale Isn’t Stopping: $392M Ethereum Long And | Crypto News
Ethereum has retraced to the $3,160 stage following the extremely anticipated FOMC assembly, where the Federal Reserve cut rates of interest by 25 foundation factors. While charge cuts sometimes assist risk property, Jerome Powell’s feedback added a new layer of uncertainty to the market.
By brazenly acknowledging the dangers of weaker growth paired with persistent inflation, Powell launched the likelihood of stagflation—a situation that traditionally challenges both equities and crypto. As a consequence, sentiment across the market stays fragile, and traders are struggling to interpret what this macro shift may imply for Ethereum’s next transfer.
Despite the volatility surrounding the choice, one major whale continues to act with conviction. According to Lookonchain, the Bitcoin OG who famously shorted the market during the October 10 crash is once again doubling down on his bullish Ethereum place.
Instead of taking income or lowering publicity after the latest rally, he has continued accumulating aggressively, signaling a strong perception in ETH’s medium-term trajectory even as broader sentiment turns cautious.
Whale Position Ramps Up, But Risk Is Rising
According to Lookonchain, the whale’s place has now surged to 120,094 ETH, valued at roughly $392.5 million. With a liquidation price at $2,234.69, this has turn out to be one of the most important and most aggressive long positions at the moment tracked on-chain.
Such a large allocation indicators excessive conviction, particularly coming from the same Bitcoin OG who efficiently shorted the market during the October 10 crash. However, the dimensions of this guess also highlights how a lot risk is now concentrated in a single directional place.
The liquidation price is a key concern. At $2,234, it sits practically $1,000 below current ranges, but in extremely leveraged environments—particularly during macro uncertainty—costs can retrace violently. Ethereum has already shown a tendency toward sharp intraday strikes, and with funding charges rising and leverage across the market stretching to historic highs, even a reasonable correction may set off cascading liquidations.
If ETH experiences a sudden spike in volatility due to shifting macro circumstances, a adverse response to the latest FOMC choice, or a broader market unwind, the whale’s place may come under vital strain. While large whales often affect market sentiment, this setup illustrates how skinny the margin for error has turn out to be.
ETH Testing Resistance While Momentum Weakens
Ethereum has retraced to the $3,196 stage after failing to maintain above the $3,300 zone, signaling that bullish momentum is starting to weaken. The daily chart exhibits ETH rejecting the pink 200-day transferring average, a key long-term development indicator that has acted as resistance throughout the latest downtrend. Until ETH breaks and closes decisively above this stage, the broader construction stays susceptible.
The 50-day transferring average is still sloping downward, reflecting persistent promoting strain despite last week’s rebound. Meanwhile, the 100-day transferring average sits properly above the current price, reinforcing the heavy overhead resistance ETH must overcome to reestablish a bullish development. Volume has also declined in contrast to the early December bounce, suggesting patrons are dropping strength as price approaches major resistance ranges.
Related Reading: Bitcoin Exchange Reserves Fall To Lowest Levels on Record: The Bullish Signal Most Traders Are Missing
Structurally, ETH stays in a mid-term downtrend, forming decrease highs and decrease lows since September. Although the latest push from the $2,800 area exhibits patrons defending key assist, the rejection at $3,350 highlights that sellers are still in control at increased ranges.
If ETH fails to regain the 200-day transferring average soon, a retest of the $3,050–$3,100 assist vary turns into probably. Conversely, a strong reclaim above $3,350 may open the door for a transfer toward $3,500, but the market will need renewed momentum to get there.
Featured image from ChatGPT, chart from TradingView.com
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