Ethereum whale who shorted October 2025 crash opens $19.7M ETH short position
An Ethereum whale who shorted Ether during the October 2025 crypto crash has returned with a $19.7M short ETH bet. The whale's position could earn $2.39 million in profits if ETH falls to $1,375.
Intelligence analysis by Llama 3.3 70B
The Ethereum whale's short position is a significant bet against the cryptocurrency, with a potential profit of $2.39 million if ETH falls to $1,375. The whale's strategy is to short ETH into weakness, using high leverage and leaning into downside momentum.
An Ethereum whale is betting against the cryptocurrency's price, hoping to make a profit if it falls. The whale has a big bet of $19.7 million, and if the price falls to $1,375, they could make $2.39 million.
Analysis
The Whale's Strategy Unveiled
The Ethereum whale's short position is a complex strategy that involves betting against the cryptocurrency's price. The whale has opened a 20x-leveraged ETH short worth $19.72 million, which is a significant bet against the cryptocurrency. The position was opened at an average price of around $1,565, and the whale has already earned nearly $106,500 in unrealized profits as the ETH price dropped around the $1,550 area.
The whale's strategy is to short ETH into weakness, using high leverage and leaning into downside momentum. This approach is similar to the whale's previous trade in October 2025, when it shorted ETH near $4,172 and later closed the position near $4,133, booking $41,693 in net profit after $5,263 in exchange fees.
Market Sentiment and Trends
The Ethereum market has been experiencing a decline in sentiment, with traders cutting exposure to speculative assets as Nasdaq and chip stocks came under pressure. The downside sentiment has tracked a broader tech-led risk selloff, and Ethereum-specific sentiment has weakened further amid renewed scrutiny of the Ethereum Foundation.
The ETH price is eyeing a decline toward the $1,375 level if it continues the breakdown out of its prevailing bear flag pattern. If ETH falls to $1,375, the whale's unrealized profit would rise to roughly $2.39 million before fees and funding, based on the position's approximate $1,565 entry price.
Risks and Challenges
The whale's bearish bet is not without risk, as a strong rebound from the $1,500-$1,512 support area could shift short-term momentum back toward the bulls. The key level to watch is the neckline near $1,850, and a decisive daily close above that level would confirm the double bottom pattern and open the door to a measured rebound toward roughly $2,190. This could put ETH close to the whale's liquidation zone near $2,150, meaning a confirmed bullish reversal could pressure or even wipe out the short position if the trader does not add collateral or reduce exposure.
Key points
- Ethereum whale opens $19.7M short ETH position
- Whale's strategy is to short ETH into weakness, using high leverage and leaning into downside momentum
- ETH price is eyeing a decline toward the $1,375 level
If the Ethereum whale's short position is successful, it could lead to a significant profit for the trader. Additionally, the whale's strategy could provide insight into the market's trends and direction, potentially influencing the price of ETH and impacting the overall market sentiment.
If the Ethereum whale's short position fails, it could result in significant losses for the trader. Additionally, the whale's strategy could exacerbate the decline in ETH price, potentially leading to a further decrease in market sentiment and a broader impact on the cryptocurrency market.
