A whale wallet just opened a 25x leveraged short worth $50.55 million on Ethereum — and a 20x long worth $25.27 million on Bitcoin. ETH was trading near $2,193 when the positions were placed. That puts the ETH short liquidation at $2,288.33, less than 5% above current prices. The BTC long has about $8,000 of headroom before liquidation at $70,325.36.
The leveraged whale's two-sided bet
Wallet 0x50b3 isn't messing around. The 25x short on ETH is a direct bet against the $2,200 floor. Meanwhile, the 20x long on BTC suggests the whale sees room for Bitcoin to run. But the ETH short is dangerously close to getting wiped out — a move of around 4.3% would trigger liquidation. With BTC at $78,400, the long has more breathing room.
Who's defending the floor
Two big players are absorbing supply. A trader linked to Matrixport extended ETH longs to 114,160 ETH — worth $248.65 million across four wallets. That position is sitting on $10.3 million in unrealized losses. An Ethereum OG with an 803x historical return just bought 1,951 ETH at $2,182 for $4.26 million USDC. That same OG previously sold 11,005 ETH at $2,777 for a $30.56 million profit. They're buying the dip here.
Trump-affiliated selling and panic deposits
World Liberty Financial, the Trump-affiliated project, sold 4,870 ETH for $10.61 million USDC at $2,178. That's a sell order right at the support zone. At the same time, two wallets possibly linked to Gammafund dumped 10,976 ETH ($23.9 million) into Binance over one hour — panic selling. The Matrixport trader and the OG dip buyer are the ones catching that supply.
The $2,200 level is under siege from both directions: a whale shorting into it and big sellers hitting the bid. Whether the defensive buying holds will be clear in the next few sessions.
