Ethereum whale opens $11M leveraged bet amid ETH price’s 30% rise potential

Key takeaways:

• An Ethereum whale opened a $11.15M leveraged long position just as ETH broke out of a bull flag.

• ETH’s price surged above $2,850, pushing the whale’s trade into a $366K unrealized profit.

• Ethereum options skew turned sharply negative, indicating growing bullish trader positioning.

A high-stakes Ether ( ETH ) long trade is making waves just as the cryptocurrency breaks out of a key technical pattern, fueling expectations of a 30% price rally toward $3,670.

$11M leveraged ETH long signals bullish sentiment

On June 10, an Ethereum whale opened a $11.15 million long position on ETH with 25x leverage, amounting to a 4,000 ETH bet placed at an entry price of $2,758.35.

Ether price climbed to around $2,850 on June 11, driven higher by hopes that the Federal Reserve would cut interest rates following the cooling inflation data .

The ETH price rise sent the whale’s position into a deeper profit territory. At current levels, the whale is sitting on an unrealized gain of approximately $366,600.

The position carries a liquidation price of $2,466, offering a relatively tight margin for error but also underscoring high conviction in the upside move.

Ethereum options data: Traders are short-term bullish

Ethereum’s options market has turned decisively optimistic in the past 48 hours.

The 25-delta skew, which measures the difference in pricing between bullish calls and bearish puts, has shifted sharply lower since Monday.

The 1-week skew dropped to -7.0% from -2.4%, while the 1-month skew declined to -6.1% from -5.6%, according to Glassnode data .

Such a deepening negative skew reflects rising demand for short-dated call options, suggesting that traders are increasingly positioning for near-term upside.

Ethereum bull flag breakout raises 30% rally potential

ETH’s price has surged more than 100% over the past two months, driven primarily by Ethereum’s Pectra upgrade in early May and its core foundation’s restructuring in early June .

On Monday, Ether broke above what appears to be a bull flag pattern, followed by a continued increase in prices and volumes.

The breakout and rising trading volume indicate strong trader conviction that ETH price could rally toward the bull flag target of approximately $3,670, up 30% from current levels by June’s end.

Related: Ethereum network growth, spot ETH ETF inflows and price gains lure new investors

Many analysts, including Standard Chartered , are further eyeing an ETH price move toward $4,000 in 2025. Some fractal analyses, with one related to gold, even predict the cryptocurrency to hit $5,000-$6,000 in the coming months.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.