A whale just executed an $80 million long position on
$ETH using 20x leverage. This positions them for massive upside if Ethereum breaks higher. The notional exposure hits $1.6 billion. One wrong move, and liquidation looms large.
The Setup Breakdown
ETH hovers near critical support at recent lows. Bulls defend it fiercely. The whale's entry aligns with building order flow. It absorbs selling pressure and could flip sentiment bullish. Open interest rises, hinting at fresh capital inflow. But thin liquidity amplifies impact. A single push tests the depth of buy-side interest.
Why 20x Leverage?