This Ethereum Whale Trader Lost $13M In 6 Months: Is Their Latest Long A Contrarian Signal?
Portfolio Pulse from Khyathi Dalal
An Ethereum whale trader has lost $13 million over six months by going long on ETH, despite recent bullish sentiment. The Ethereum Foundation has been selling ETH, and large deposits to exchanges suggest rising selling pressure. However, some traders remain optimistic about Ethereum's future performance.
September 20, 2024 | 3:49 pm
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An Ethereum whale trader has lost $13 million over six months by going long on ETH, indicating potential misjudgment in market timing. Despite this, some traders remain optimistic about Ethereum's future performance, predicting significant price increases.
The whale's losses highlight potential risks in current market conditions, but the bullish sentiment from other traders suggests mixed signals. The Ethereum Foundation's sales and large exchange deposits indicate selling pressure, but some traders predict a strong bullish move.
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