Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnSquareMore
Bitcoin Whale Closes ETH Long Position for $2.8M Profit

Bitcoin Whale Closes ETH Long Position for $2.8M Profit

CoinomediaCoinomedia2025/11/12 01:00
By:Isolde VerneIsolde Verne

A Bitcoin OG closed 55,133 ETH long position, securing $2.8M profit. What this move could mean for the crypto market.Major Ethereum Long Closed by Crypto WhaleWhy This Move MattersWhat’s Next for ETH?

  • Bitcoin OG exits $193.8M ETH long position
  • $2.8M profit secured amid market volatility
  • Potential signal for Ethereum market trend

Major Ethereum Long Closed by Crypto Whale

A well-known Bitcoin OG, wallet address 1011short, has made a significant move by closing a massive Ethereum long position. This trader exited a total of 55,133 ETH , which was valued at around $193.8 million, locking in a $2.8 million profit.

This exit comes during a time of increased volatility in the crypto markets, especially as Ethereum continues to battle with resistance near key price levels. Such a decisive trade by a large player often grabs the attention of retail and institutional investors alike.

Why This Move Matters

Closing such a large ETH long position might signal caution or profit-taking, particularly as Ethereum’s price faces strong resistance around the $3,600-$3,800 range. Given that this trader had held the position during a bullish wave, the decision to cash out could indicate a short-term market top or simply a well-timed profit strategy.

Whale activity often influences short-term price movements due to the sheer size of their positions. Traders and analysts frequently track these addresses to get insights into possible market trends. The $2.8M realized gain shows disciplined risk management, highlighting that even experienced traders are choosing to lock in profits instead of risking a deeper market correction.

What’s Next for ETH?

The closure of such a significant long position doesn’t necessarily spell doom for Ethereum. However, it may encourage others to reassess their positions, especially those who entered during the recent uptrend. If more whales follow suit, it could apply downward pressure on ETH prices in the short term.

On the flip side, Ethereum’s fundamentals remain strong with ongoing network upgrades, rising interest in staking, and anticipation around future ETF approvals. So while whales may take profits, many long-term holders remain bullish.

Read Also:

  • Argentina Freezes Assets in Libra Token Scandal
  • Console Wallet Launches for Secure $CC Management
  • Missed Cardano’s Boom? BullZilla Emerges as the Best Crypto to Buy in 2025 for the Next 100x Comeback
  • Post-Quantum Cryptography Urged Amid Encryption Threat
  • China Links U.S. to 2020 LuBian Hack Amid Bitcoin Seizure
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

Solana News Update: Institutional Interest Drives Solana ETFs Higher, While Token Value Declines

- CoinShares withdrew its staked SOL ETF application due to uncompleted structuring deals, complicating crypto ETF development in the U.S. - Competitors like Bitwise and Franklin Templeton launched successful staked SOL ETFs, amassing $918M in assets despite SOL's price stagnation below $150. - ETF inflows contrast with SOL's weak price action, hindered by technical issues and a bearish death cross pattern near $130 support level. - Institutional confidence persists through accumulation, but macroeconomic

Bitget-RWA2025/11/29 22:38
Solana News Update: Institutional Interest Drives Solana ETFs Higher, While Token Value Declines

XRP News Today: Regulatory Support Boosts RLUSD While XRP Faces Declining Technical Prospects

- XRP's 40% price drop contrasts with RLUSD's 56% surge in transaction volume to $3.5B, driven by institutional demand and regulatory approvals. - ADGM's recognition of RLUSD as a fiat-referenced token enables its use in collateral and lending, advancing Ripple's compliance-focused strategy in key financial hubs. - XRP remains below its 100-day EMA with bearish technical indicators, while RLUSD's 92.6% November issuance growth highlights its expanding role on the XRP Ledger. - Analysts suggest RLUSD's inst

Bitget-RWA2025/11/29 22:38
XRP News Today: Regulatory Support Boosts RLUSD While XRP Faces Declining Technical Prospects