$ETH 20x leverage on $ETH today? You’re basically dancing on a landmine. 💣 We just watched Trend Research lose $680 million trying to defend their Aave loans when ETH hit $1,750 last week. The funding rates finally turned negative, which is usually a 'bottom' signal, but with $15 billion in total leverage already wiped out this month, the liquidity is paper-thin. A 2% wick could liquidate that 20x whale before the 'mega bull' even starts. I’m staying spot until we reclaim $2,200 with volume
$ETH The trade uses 20x leverage, which greatly increases potential gains and losses. The position was opened around the $2,020 to $2,040 price range. Soon after entry, the trade showed unrealized losses of more than $1 million. The whale, identified as 0x6C85, appeared only hours before the trade. Tracking accounts say the trader may add more funds to the position.
High-Leverage Bet Draws Market Attention
Large leveraged trades often attract attention across the crypto market. Many traders watch these positions as signals of whale sentiment. Some see the move as a strong bet on an Ethereum rebound. Others view it as a risky gamble. With 20x leverage, even a 5% price move in the wrong direction could trigger liquidation. Similar trades in the past have caused sharp price swings. When big positions get liquidated, they can push the market lower in a short time. This effect becomes stronger on perpetual futures platforms.
Potential Impact on $ETH Market
For now, the position remains open and active. But its size makes it important for short term price action. If Ethereum moves higher, the whale could see large gains. On the other hand, a drop toward the liquidation level could trigger a forced close. That event might add selling pressure to the market.
Traders often watch these large positions closely. They can act as support and risk zones. If the whale adds more funds, the liquidation price could shift lower. Currently, the market waits to see whether this high stakes bet pays off or ends in a costly liquidation.