The "big whale" behind the 1011 insider news has opened a $15 million 5x ETH short position, which is not surprising—this trader previously earned nearly $200 million from a large short position just before the market flash crash on October 11, making them a true "shorting veteran".

In comparison, recently there has been a big whale opening a 25x ETH short position, but the 5x leverage combined with a tens of millions level position is already a relatively conservative high-risk operation. The practical insight from trading is that even big whales can stumble; at the beginning of November, they almost faced liquidation due to their long position, as leverage has never been a guaranteed way to profit.

In the short term, this may put slight selling pressure on ETH, but the cryptocurrency market is already highly volatile, and the actions of a single whale are unlikely to change the overall trend; ultimately, it still depends on capital flow and general market sentiment.

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