- Whale sells $4.55 million ETH spot as market dynamics shift.
- He then opens 15x leverage long on $67.8 million ETH trade.
- This move signals a possibility for a major uptrend for ETH price.
The crypto market began Q4 in a promising bullish state, led by the pioneer crypto asset, Bitcoin (BTC), setting its latest ATH price yesterday in the $125,500 price range, where two consecutive ATH targets were set. In response, one whale sells $4.55 million ETH spot and opens a 15x leverage long on $67.8 million ETH trade. This bolsters bullish expectations for altcoin prices to surge and hit new ATH targets soon.
Whale Sells $4.55 Million ETH Spot
Yesterday, the price of the pioneer crypto asset, Bitcoin (BTC), went on to hit two new consecutive ATH prices in the $125,500 price range, igniting bullish expectations for altcoin prices to pump next, starting with the pioneer altcoin asset, Ethereum (ETH). With new ATHs being hit, the crypto market sees shifting dynamics between long and short traders who are now repositioning their trades .
At the moment, expectations are high for the price of Bitcoin (BTC) to hit new ATH prices, possibly in the $130,000 – $135,000 price range as well as in the $140,000 – $145,000 price range. Similarly, the price of the pioneer altcoin asset, Ethereum (ETH), is expected to hit bullish new ATH prices starting with reclaiming its previous ATH price and surging past the $5,000 price range.
As we can see from the post above, one whale sold 1,001 ETH worth $4.55 million spot and then went on to open a 15x leverage long on 15,023 ETH worth $67.8 million. This shows high promise for the price of Ethereum (ETH) to surge and hit new ATH targets in the coming days ahead. Presently, expectations for the ATH targets for the price of ETH lie between $8,000 to $16,000 by the end of the year.
Open 15x Leverage Long on $67.8 Million ETH Trade
Other traders are making similar strategic trade position shifts. As we can see from the post above, Trend Research deposited another 77,491 ETH worth $354.5 million into Binance for sale in the past 10 hours. Over the past 4 days, they have deposited 143,124 ETH worth $642 million into Binance . Are they expecting ETH to hit a certain target before taking profits, if so, how much will it pull out?
As for the next ATH price Ethereum is expected to hit, the reputed analyst in the post above goes on to share a chart image to highlight the completion of a bullish price pump pattern. The chart indicates that the ETH retest is finally done and that the bull triangle target is set for $7,900. Once this target is hit, the price of ETH might just surge to claim even higher targets before the end of the year.
