Ethereum Whale Returns with Massive Short Position Worth $19.72 Million

A well-known Ethereum whale has returned after an eight-month hiatus and opened a massive short position worth $19.72 million.

The whale, who was active during the October 2025 crypto crash, used a 20x-leveraged short strategy near the $1,500 support zone, where Ether had dropped 18.25% over the last two weeks.

If ETH falls to $1,375, as predicted by its bear flag breakdown setup, the whale's unrealized profit would rise to roughly $2.39 million before fees and funding, based on the position's approximate $1,565 entry price.