Ethereum News Today: Ethereum Whale's $9.96M Surge: High-Leverage Bet on Market Rebound

A major Ethereum whale has once again bolstered its long position in the cryptocurrency, signaling renewed confidence amid a modest market rebound. According to on-chain analytics from Lookonchain, the whale—nicknamed "Smart Money"—increased its ETH holdings by 2,621.95 coins (approximately $9.96 million) within 15 minutes, bringing its total long position to 16,380.08 ETH, valued at $62.35 million. The position, leveraged at 25x, has an average entry price of $3,741.34 and a liquidation price of $3,219.96. While unrealized profits have dipped to $654,000 from a prior peak of $8.61 million, according to a Lookonchain update, the whale's aggressive accumulation suggests a strategic bet on Ethereum's potential recovery.

The move aligns with broader activity in leveraged crypto trading, particularly from high-profile trader "Buddy," who has been rebalancing its portfolio. Onchain Lens data reveals that Buddy partially closed high-leverage HYPE long positions and initiated a 10x leveraged long in PUMP, and this shift, according to a Lookonchain feed, combined with a modest increase in ETH exposure, has positioned Buddy's total crypto portfolio at $24.31 million across ETH, HYPE, and PUMP. The trader's strategy reflects a cautious approach following a $12.56 million loss during the October 11 flash crash, according to Bitget. Despite trimming HYPE exposure, Buddy's ETH longs—now 2,450 coins at 25x leverage—show an unrealized profit of $890,000, underscoring a focus on Ethereum's resilience.

Market dynamics remain volatile, with Ethereum hovering near critical support levels. Analysts note that a breakout above the $41–$42 range could trigger a 54% rally, though liquidity conditions and auto-liquidation risks remain concerns, according to a Coinotag analysis. The broader crypto market has seen mixed outcomes, with Hyperliquid's open interest hitting $1.97 billion and long positions generating $182.6 million in profits against $222.7 million in short losses. Meanwhile, institutional confidence is growing: Hyperliquid's recent $1 billion SEC staking filing for HYPE and Binance's large ETH orders highlight deepening institutional involvement.

The whale activity underscores a broader trend of concentrated risk-taking in leveraged positions. While some traders, like Buddy, are diversifying across altcoins, others are doubling down on Ethereum. The second-largest ETH long position on Hyperliquid, held by the "Smart Money" whale, now ranks as a key indicator of market sentiment. However, the recent retracement of unrealized gains—particularly for the whale's prior $8.61 million peak—highlights the fragility of high-leverage strategies in a sideways market.

As the crypto market navigates uncertainty, the actions of these whales will likely influence near-term price movements. For now, the combination of strategic rebalancing, leveraged bets, and institutional activity suggests a market poised for both opportunity and risk. Traders are advised to closely monitor liquidation thresholds and liquidity dynamics, particularly as Ethereum tests critical support levels.