Ethereum News Update: Bearish Whale’s $24 Million ETH Short Confronts Bullish Divergence

The '100% Win Rate Whale' has expanded its

short position by a factor of 25, bringing the total to $24 million

A well-known

whale has significantly increased its short exposure, now holding a $24 million bet against the asset. This move reflects a rising bearish outlook as market conditions shift. The action points to a change in whale strategy, with long-term investors reducing their positions while short-term traders seek to benefit from heightened volatility.

Recent blockchain data shows that the whale’s accumulation approach matches a broader shift among Ethereum holders. The Holder Accumulation Ratio (HAR) has dropped from 31.27% to 30.45% since late October, suggesting that older ETH holders are buying less. At the same time, short-term whales are taking aggressive positions, citing Ethereum’s growing tokenization and staking rewards as reasons for their strategies, according to

.

Shawn Young, MEXC’s Chief Analyst, noted that this split highlights changing confidence between retail and institutional investors. “Whales are accumulating due to Ethereum’s staking returns and tokenization, while more established holders remain wary,” he told BeInCrypto. Should the HAR stabilize in November, it may indicate that retail traders are starting to follow whale sentiment, reinforcing the market shift described in the Yahoo Finance report.

From a technical perspective, Ethereum’s two-day chart displays a hidden bullish divergence: prices are making higher lows as the RSI forms lower lows. This setup hints that sellers are losing momentum, which could support a breakout above major resistance. ETH is currently trading around $3,860, with key resistance at $4,070 and $4,240. If the price closes above $4,240, it could confirm the uptrend and drive ETH toward $4,620, which Young calls the “upper boundary of its long-term channel,” as referenced in the Yahoo Finance analysis.

Still, the whale’s bearish stance highlights ongoing market uncertainty. While the hidden divergence and whale accumulation suggest a slow recovery into mid-November, a drop below $3,510 would negate the bullish outlook. Traders are watching closely to see if the $24 million short position will spark short-term price swings, especially as Ethereum’s staking yield continues to influence the decisions of long-term holders, according to the Yahoo Finance outlook.