Bitcoin OG Doubles Down On Ethereum With A Massive $209.8M Long – Find Out His Liquidation Price
A Bitcoin whale known as "BitcoinOG," who previously shorted the market during the October 10 crash, has significantly increased his long position on Ethereum, accumulating 67,103.68 ETH worth approximately $209.8 million. According to on-chain data from Lookonchain, the position currently holds over $4 million in unrealized profit, with a liquidation price set at $2,069.49. This move comes as Ethereum struggles to maintain stability above the $3,000 support level amid cautious market sentiment ahead of the upcoming FOMC meeting.
Despite the whale’s aggressive bullish bet, Ethereum’s technical outlook remains fragile. The weekly chart shows ETH trading below its 50-week moving average, with repeated rejections near the $3,500–$3,800 resistance zone. Volume remains subdued, indicating hesitant buyer interest. A decisive break above $3,300 is needed to signal renewed bullish momentum. However, the market remains sensitive to macro developments, and a drop toward the whale’s liquidation level could trigger cascading sell-offs.
bitcoinist12/10 06:05