Ethereum Whale Returns with $19.72M Short Position Ahead of Potential Crash

An Ethereum whale has returned to the market after an eight-month hiatus, opening a $19.72 million short position in Ether (ETH) near the $1,500 support zone.

The whale's strategy is similar to its previous trade, where it shorted ETH during the October 2025 crypto crash and closed the position with a net profit of $41,693 after exchange fees.

This time, the whale has used high leverage, opening a 20x short position at an average price of around $1,565.

If Ether continues to decline, reaching the bear flag breakdown setup's target of $1,375, the whale could earn roughly $2.39 million in profits before fees and funding.