Ethereum News Today: Bearish Whale's $24M ETH Short Faces Bullish Divergence Challenge

The '100% Win Rate Whale' Continues to Increase Its ETH Short Position by 25x, Reaching a Position Size of $24 Million

A prominent Ethereum whale has escalated its short position by 25 times, now holding a $24 million stake against the cryptocurrency, signaling a growing bearish sentiment amid broader market dynamics. The move highlights a strategic shift in whale behavior, with long-term holders trimming exposure while short-term speculators capitalize on perceived volatility.

According to recent on-chain data, the whale's accumulation strategy aligns with a broader recalibration in Ethereum's holder landscape. The Holder Accumulation Ratio (HAR) has declined since late October, dropping from 31.27% to 30.45%, indicating reduced buying pressure from older ETH holders. Meanwhile, short-term whales are aggressively positioning themselves, leveraging Ethereum's expanding tokenized infrastructure and staking yields as justification for their bets, according to a Yahoo Finance outlook.

Shawn Young, Chief Analyst at MEXC, explained that this divergence reflects shifting confidence between retail and institutional players. "Whales are seeing Ethereum's staking yield and tokenized infrastructure as reasons to accumulate, while older holders remain cautious," he told BeInCrypto. If the HAR stabilizes in November, it could signal that retail investors are beginning to align with whale sentiment, amplifying the broader market recalibration suggested in the Yahoo Finance outlook.

Technically, Ethereum's price action on the 2-day chart reveals a hidden bullish divergence, where prices have formed higher lows while the RSI has created lower lows. This pattern suggests that sellers are losing strength, potentially supporting a breakout above key resistance levels. Currently trading near $3,860, ETH faces critical resistance at $4,070 and $4,240. A close above $4,240 could validate the uptrend, pushing the price toward $4,620, a level Young describes as the "upper end of its long-term channel," as noted in the Yahoo Finance analysis.

However, the bearish whale's position underscores lingering uncertainty. While the hidden divergence and whale accumulation point to a gradual recovery into mid-November, a breakdown below $3,510 would invalidate the bullish bias. Market participants are closely watching whether the $24 million short position will influence short-term volatility, particularly as Ethereum's staking yield remains a contentious factor in long-term holder decision-making, according to that Yahoo Finance outlook.