Ethereum whales significantly increase long positions, attracting market attention.

CN
2 hours ago

The on-chain behavior of the whale has injected a strong signal for market uplift, with ETH prices recently rising by about 8-10%. According to the data, the whale's average opening price is between $3108 and $3108.49, with unrealized profits ranging from $15.97 million to $21.5 million, indicating its profitability in the current market conditions. Notably, the whale's margin usage rate is 38%, and it has placed a limit order of $63 million, planning to further increase its position.

In the context of this event, the overall market atmosphere appears very active. The Federal Reserve is about to announce its interest rate decision, leading to increased market volatility, with major cryptocurrencies like ETH and BTC showing strong rebounds. BTC prices are approaching $95,000, and several banks have begun to take action, such as PNC Bank partnering with Coinbase to launch BTC trading services, indicating a gradual institutional adoption of cryptocurrencies.

The whale's actions not only reflect a strong bullish sentiment towards ETH but also trigger FOMO in the market, resulting in an overall price increase. However, such high-leverage operations carry the risk of liquidation, especially in the face of increasing market uncertainty. Recently, there was a nearly $387 million liquidation event across the market, further emphasizing the current risks.

In this situation, analysts and market participants should cautiously interpret the whale's behavior, particularly since its true identity remains unclear, and the causal relationship between market participants and whale actions requires further study. Meanwhile, the whale's unrealized profit data also shows certain discrepancies due to market price fluctuations, necessitating attention to the impact of real-time data changes.

In the future market outlook, balancing market enthusiasm with potential risks, especially after the upcoming Federal Reserve interest rate decision, will remain a focal point for investors.

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