Ethereum Whale Boosts Long Position to $100M Amid Market Volatility
A significant whale investor in Ethereum (ETH) has increased its long position to over $100 million, even as the token trades below $2500. The Hyperliquid whale address 0x0392a716dbee1661ea781881826b928daeb5d7d9 added 3.73 million USDC margin overnight and scaled up its ETH long by another 28,300 tokens, pushing the position to 45,000 ETH.
This move makes the address the second-largest ETH long holder on the platform, with a current unrealized loss of $3.114 million. The whale's investment strategy is now being closely watched as it navigates the choppy market conditions.
According to technical analysis, the price of Ethereum currently sits at $2419.78 within the Bollinger Bands, testing the upper resistance at $2517. However, with a MACD death cross and an RSI reading of 41.4, the overall structure remains bearish, suggesting that any potential bounce may stall before retesting lower band support near $2403.