Ethereum Whale Opens $19.7M Short Bet Against ETH Price
A prominent on-chain whale has initiated a new $19.7M ETH short, targeting a potential drop to $1,375 with $2.39M in unrealized gains at stake.
A sophisticated Ethereum trader with a track record of well-timed bearish bets has opened a fresh $19.7 million short position against Ether, according to on-chain data reported by Cointelegraph. The move draws attention not only for its size but for the identity of the trader — the same whale whose short position reportedly captured gains during the October 2025 ETH price crash, lending credibility to the new wager.
The technical picture underpinning the trade points to a potential decline toward $1,375, a level that would represent a significant leg down from current prices. Should ETH reach that target, the whale stands to accumulate roughly $2.39 million in unrealized profit — a return that underscores the asymmetric upside large leveraged positions can offer when timed correctly against a weakening market structure.
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What makes this position analytically interesting is the pattern it suggests: a repeat actor using demonstrated expertise in ETH's price cycles to position ahead of what they appear to believe is an imminent breakdown. Large short positions of this scale can themselves become a market signal, as other traders monitor on-chain data for whale activity and may adjust their own exposure accordingly, creating self-reinforcing downward pressure if sentiment deteriorates.
Of course, short positions of this magnitude carry substantial risk. If Ethereum rallies instead, the whale faces mounting losses and potential liquidation — outcomes that can trigger sharp, rapid price recoveries as short sellers are forced to buy back their positions. The ETH market remains highly sensitive to macro sentiment, broader crypto flows, and protocol-level developments, all of which can override technical setups quickly.
For retail investors watching the space, the trade serves as a reminder that even high-conviction, well-timed whale strategies operate in a landscape of significant uncertainty. Continue reading at Cointelegraph.
