Ethereum whales cash out $14mln as $136mln shorts burn – Next move for ETH?

ambcryptoPublished on 2026-03-17Last updated on 2026-03-17

Abstract

Ethereum extended its uptrend, reaching a local high of $2385 before retracing to $2317. This price surge triggered massive liquidations, with over $136 million in short positions and $39 million in long positions being liquidated. A Matrixport-linked whale cashed out a 40,000 ETH long position, realizing a $14.47 million profit, while still holding 80,000 ETH. Conversely, some leveraged short positions faced significant losses. Market participation surged, with derivatives volume rising 60% to $86.7 billion and open interest increasing 4.4% to $33.2 billion. The long/short ratio climbed to 1.04, indicating growing bullish sentiment. Technical indicators, including the MACD and DMI, showed strong upward momentum with buyers in control. If demand persists, ETH could target $2500, but failure to sustain momentum might lead to a drop toward $2069. The current move is viewed as a relief rally rather than a confirmed bull trend.

Ethereum extended its uptrend, touching a local high of $2385, before slightly retracing to $2317 as of this writing.

The altcoin’s continued rise led to massive liquidations of futures positions. In fact, over $136 million worth of short positions were liquidated, while $39 million worth of long positions were liquidated.

Source: CoinGlass

Amid the rising liquidation rates, market participation, especially from whales, has skyrocketed on the futures market.

Ethereum whales in the futures see heightened volatility.

With Ethereum [ETH] seeing significant upside volatility, some whales have seen massive profits while shorts have seen losses mount.

According to Lookonchain, a Matrixport-linked whale closed a 40,000 ETH ($94.16 million) long position. In doing so, the whale realized a $14.47 million profit.

Even after the sale, the whale still holds a long position of 80,000 ETH, valued at $188.4 million. While longs have seen their profit margins rise, shorts are counting losses.

Lookonchain reported that while Pension usdt.eth has a 86% win rate, the whale shorts are taking losses. The 3x-leveraged short position on 10,000 ETH, valued at $23.6 million, sat at a $3.46 million loss.

With shorts taking losses, while longs recording profits, market participants have turned to long positions.

Source: CoinGlass

According to CoinGlass data, Derivatives Volume rose 60% to $86.7 billion while Open Interest [OI] jumped 4.4% to $33.2 billion. This showed increased participation and capital flows into futures.

Meanwhile, the Long/Short Ratio rose to 1.04, with Binance Top Traders leading with 1.28. A ratio above 1 indicates increased demand for long positions, reflecting market bullishness.

What’s next for ETH?

Ethereum’s upside momentum strengthened further as investors covered their short positions to avoid liquidations. As such, buyers took control of the market, boosting ETH to flip above its short-term moving averages, as evidenced by the MACD-SMA.

At the same time, the positive index of the Directional Movement Index rose to 35, while the negative index fell to 12. Likewise, the ADX smoothed remained below 20 at 17.

Source: TradingView

With these movement indicators set in this manner, the market showed strong upside momentum, with buyers enjoying significant market control.

Therefore, if current market demand holds, ETH could see further gains, targeting a move above $2.5k. However, SMA indicated that the current upside is likely a relief rally rather than a confirmed bull trend.

For trend confirmation, ETH needs to flip its long-term MAs. Thus, if this attempt fails and leverage is reduced again, ETH could drop towards $2069.

Final Summary

  • Ethereum continued its bullish run, touching a high of $2385 before retracing to $2317 at press time.
  • Ethereum whales saw increased volatility in the futures, with mounting losses and profits.

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Related Questions

QWhat was the local high price reached by Ethereum during its uptrend, and what was its price at the time of writing?

AEthereum reached a local high of $2385 and was trading at $2317 at the time of writing.

QHow much in short and long positions were liquidated due to Ethereum's price movement?

AOver $136 million worth of short positions and $39 million worth of long positions were liquidated.

QWhat significant action did the Matrixport-linked whale take, and what was the profit realized?

AThe Matrixport-linked whale closed a 40,000 ETH long position, realizing a profit of $14.47 million.

QWhat does the Long/Short Ratio of 1.04 indicate about market sentiment?

AA Long/Short Ratio above 1 indicates increased demand for long positions, reflecting bullish market sentiment.

QWhat are the potential price targets for ETH if current market demand holds, and what is the key level it needs to flip for trend confirmation?

AIf demand holds, ETH could target a move above $2.5k. For trend confirmation, it needs to flip its long-term moving averages; otherwise, it might drop towards $2069.

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