A well-known Bitcoin whale has returned to high-stakes trading with a sizable Ethereum position, adding fresh momentum to a market that is only beginning to recover. According to on-chain data, the trader known as “1011short” deposited $10 million in USDC to the decentralized exchange Hyperliquid before opening a 5x leveraged long position. The move created a $44. 15 million exposure backed by 15, 000 ETH, marking one of the whale’s largest recent trades. The entry price for the position was $2,945. 83 per ETH, placing the wallet slightly in the red as Ethereum hovers near $2,896. This leaves the position with an unrealized loss of over $38,000. The trade remains active, with a liquidation level of $2,326. 6, providing the whale with a sizable buffer amid current volatility. Advertisement Market Shows Signs of Rebound After Recent Sell-Off The whale’s re-entry comes at a moment when the broader crypto market is starting to regain stability. Bitcoin reclaimed the $89,000 level today and is up 1. 37% over the past 24 hours. Even so, the asset remains more than 20% below its peak last month, highlighting the depth of the recent correction. This improving sentiment has also lifted major altcoins. Solana climbed to $137. 88, posting a 5. 6% daily gain, while XRP rose 8. 59% to $2. 23. Liquidations Spike as Prices Rebound The market’s sharp swing back into positive territory triggered a significant wave of liquidations, particularly for bearish traders. Data from Coinglass shows that $337. 86 million in leveraged positions were liquidated in the last 24 hours. Indeed, the rapid price movements caught many traders off guard, particularly those positioned against the rebound. A total of 112, 021 traders were liquidated during this window, with short sellers suffering the heaviest losses. Nearly $233. 05 million in short positions disappeared as prices reversed upward. Meanwhile, long traders also felt some pressure, albeit to a lesser degree, with losses of $104. 81 million. Notably, the largest single liquidation occurred on Hyperliquid DEX, where an $8. 61 million BTC-USD order was wiped out. Bitcoin and Ethereum Lead Liquidation Totals Reflecting their dominant market positions, Bitcoin and Ethereum accounted for the bulk of these losses. Bitcoin saw $119. 17 million in liquidations, while Ethereum followed with $73. 34 million. Overall, these totals highlight continued aggressive use of leverage across the top two cryptocurrencies, even amid heightened uncertainty.
https://thecryptobasic.com/2025/11/25/major-whale-reenters-ethereum-market-with-44m-long/
