The only reason why Ethereum is not going up from here is because whales have been opening massive long positions with 50x leverage which makes it very easy to liquidate them and it is worth the effort.
A whale got liquidated on Sunday and today another whale has opened a $138,75M long (73,076 ETH at $1883.29. Liquidation price: $1854.
That long will be liquidated today and then Ethereum will go up and Eth will stay on this bottom for as long as whales keep opening those longs.
Professional traders always split their positions into smaller ones to avoid attention, but those whales are clearly enjoying the thrill of living dangerously.
Ethereum is going UP this year, it is not dying like so many social influencers are emoting. The bear bias on Ethereum is exactly what the MMs wanted to achieve among retail.
A whale got liquidated on Sunday and today another whale has opened a $138,75M long (73,076 ETH at $1883.29. Liquidation price: $1854.
That long will be liquidated today and then Ethereum will go up and Eth will stay on this bottom for as long as whales keep opening those longs.
Professional traders always split their positions into smaller ones to avoid attention, but those whales are clearly enjoying the thrill of living dangerously.
Ethereum is going UP this year, it is not dying like so many social influencers are emoting. The bear bias on Ethereum is exactly what the MMs wanted to achieve among retail.
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