Hyperliquid Whale Reloads on Ethereum Amid Profit-Taking Cycles

A massive Ethereum trader known as the 'Hyperliquid Whale' has reopened a significant long position in ETH, injecting liquidity back into the market.

The whale shifted $26.83 million in USDC to three fresh wallets and executed 8,000 ETH positions each at $2,490 for a notional value of $20 million.

This move comes after a brief profit-taking spree that saw the trader close 120,000 ETH and 2,000 BTC for realized gains of $61.72 million over three days.

The current price of ETH sits at $2,494.37 on the 4-hour chart, within the Bollinger band with upper resistance at $2,525.72 and lower support at $2,441.57.