Either this whale sees a major bounce coming… or conviction levels are simply off the charts. This Matrixport-linked whale is either doubling down… or refusing to blink😵. The giant whale tied to Matrixport, currently holding a massive 120,000 $ETH long worth roughly $237M, is now sitting on an unrealized loss of around $33.86M , already one of the bigger drawdowns on the board. But instead of cutting risk, the whale just added a new trade. A fresh account was created, 5M USDC was deposited, and shortly after, the wallet opened a 20x leveraged long on 500 $BTC , worth roughly $36.5M. That’s a pretty aggressive move while already deep loss on ETH , almost like adding another high-conviction bet instead of stepping back. Address: 0x4be5f249c4df500ede3fed4171bd37b8563420c0