According to The Crypto Basic, a well-known Bitcoin whale has reentered the Ethereum market with a $44.15 million long position on Hyperliquid. The trader, known as '1011short,' deposited $10 million in USDC and opened a 5x leveraged position backed by 15,000 ETH at an entry price of $2,945.83 per ETH. The position is currently in the red with an unrealized loss of over $38,000 and a liquidation level at $2,326.6. The whale's move comes as the broader crypto market shows signs of recovery, with Bitcoin reclaiming $89,000 and Ethereum trading near $2,896. In the past 24 hours, $337.86 million in leveraged positions were liquidated, with short sellers suffering the most, losing nearly $233.05 million.
Major Whale Reenters Ethereum Market with $44M Long Position
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