Ethereum News Today: Ethereum Nears $3,600 as Whales Target $3.5B in Leveraged Longs

Ethereum (ETH) approached the $3,600 psychological level on July 24, 2025, as data revealed over $3.5 billion in leveraged long positions concentrated just below this threshold, raising risks of whale-driven liquidations. Market analysts and tracking platforms highlighted that large holders are strategically exploiting overleveraged retail traders, with recent activity including a $26 million liquidation of a 15x leveraged position held by Aguila Trades [2]. This event, occurring at $3,650, underscored intensified bearish pressure and signaled potential cascading sell-offs as forced exits trigger further downward momentum [1].

The $3,600 level has emerged as a critical battleground, with whales targeting leveraged longs to capitalize on retail vulnerabilities. According to COINOTAG sources, this zone represents a strategic opportunity for large holders to manipulate liquidity and amplify volatility [1]. LitixApp data corroborated the imbalance, showing that most leveraged short positions have been eliminated, leaving leveraged longs disproportionately exposed. Analysts warned that even minor price dips could trigger widespread liquidations, as leveraged positions above 10:1 leverage ratios face heightened margin call risks [1].

Market dynamics were further complicated by BlackRock’s Ethereum ETF adding $100 million in ETH holdings, signaling institutional confidence despite broader market fragility [2]. Ethereum’s price action, which retreated to $3,590.66 USDT—a 2.08% decline from its $3,850 peak—reflected lingering bearish sentiment. A brief rebound from the $3,550 support zone failed to sustain momentum, suggesting structural weakness amid high-profile liquidations [4].

CoinGlass data revealed $500 million in crypto market liquidations over the prior 24 hours, highlighting systemic leverage risks. While short-term rebounds indicated resilience, experts like Michaël van de Poppe noted that Ethereum’s current phase represents a consolidation period before a potential larger correction. A sustained recovery above $3,650 could reinvigorate bullish sentiment, but a breakdown below $3,500 would likely confirm a deeper bearish trend [7].

The interplay between whale activity and leveraged positions remains a key driver of volatility. Whale-driven strategies, including large block trades or wash trades, can accelerate price declines by triggering forced liquidations. Market observers emphasized the importance of monitoring volume and price action around $3,600 to anticipate the next phase of movement. As one analyst stated, “The next few hours could define Ethereum’s near-term direction, but macroeconomic factors like ETF inflows and regulatory developments will ultimately shape long-term outcomes” [3].

Source: [1] [Ethereum Nears $3,600 as Whales Target Leveraged Longs](https://en.coinotag.com/ethereum-nears-3600-as-whales-potentially-target-leveraged-longs-for-liquidations/) [2] [Ethereum Slips as Whales Hunt Overleveraged Longs](https://cryptoadventure.com/ethereum-eth-slips-as-whales-hunt-overleveraged-longs-below-3-7k) [3] [Ethereum Price Prediction: ETH Price in 2025, 2026, 2027](https://coindcx.com/blog/price-predictions/ethereum-price-weekly/) [4] [Ethereum Price Dips to 3,590.66 USDT](https://m.economictimes.com/crypto-news-today-live-23-jul-2025/liveblog/122843855.cms) [7] [Crypto Market Liquidation Activity Surpasses $500M](https://www.bitcoininsider.org/article/280114/bitcoin-momentum-weakens-120k-pengu-among-few-altcoins-holding-green)