Ethereum whale opens $19.7M 20x ETH short near $1,500
An Ethereum whale returned after eight months and opened a 20x ETH short worth $19.72 million with an average entry near $1,565 as Ether traded around $1,500.
On Friday, wallet 0xf83f…6728 reopened activity after an eight-month pause and placed a 20x-leveraged short on Ether with a notional value of $19.72 million as the token reached the roughly $1,500 support area. On-chain analytics show the position’s average entry near $1,565; the trade held about $106,500 in unrealized profit while Ether traded near $1,550 at the time of reporting.
Ether had declined about 18.25% over the prior two weeks. Market participants linked part of the downward pressure to a broader tech-led selloff, including losses in major Nasdaq and chip stocks that reduced appetite for speculative assets. Reports of budget cuts, staff reductions and a series of senior departures at the Ethereum Foundation added to negative sentiment specific to the network.
Technical charts show a bear flag breakdown. Traders say the pattern could target roughly $1,375; based on the whale’s approximate $1,565 entry and 20x leverage, a fall to $1,375 would increase unrealized profit to about $2.39 million before fees and funding.
The wallet has prior activity from the October 2025 volatility. Records indicate the same wallet opened a short near $4,172 on Oct. 27, 2025 and closed it near $4,133, recording $41,693 in net profit after about $5,263 in exchange fees. The current position’s notional size is substantially larger than that October trade.
Ether’s daily chart also shows a potential double bottom around $1,500–$1,512, where buyers stepped in twice in June. A decisive daily close above the neckline near $1,850 would project a measured move to about $2,190. That level approaches the whale’s estimated liquidation zone near $2,150 and could pressure or liquidate the short if the trader does not add collateral or reduce exposure.
High leverage magnifies gains and losses, and fees and funding rates affect net returns. Market participants are watching price action around the $1,500 support and the $1,850 resistance for signals market participants say would influence whether the short continues to register gains or is put at risk by a bullish reversal.
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