Whale Trader Locks $14M ETH Profit, Shorts 650 BTC
A skilled whale trader has reportedly locked in a substantial profit of $14.06 million by buying Ethereum (ETH) early in its current price increase, and now is adding to their gains with a short position on Bitcoin (BTC).
The trader opened a long position on 20,000 ETH at $1,936, which has since led to the significant profit. To further amplify their gains, they have added a short position of 650 BTC at $84,057.
The price action of Ethereum is currently trading within its Bollinger Bands near lower support at $2,647.65. The Moving Average Convergence Divergence (MACD) death cross at -5.97 indicates bearish momentum, while the 50-period Exponential Moving Average (EMA) acts as immediate resistance and the 200-EMA offers deeper structural support.