Key Observations:
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In a most audacious display of financial bravado, an Ethereum whale has embarked upon a leveraged long position of $11.15 million, coinciding with the momentous breakout of ETH from a rather dashing bull flag.
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As if by some stroke of fortune, ETH’s price has ascended beyond the lofty heights of $2,850, thereby bestowing upon our whale a delightful unrealized profit of $366,000. How splendid! 🎉
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Moreover, the Ethereum options skew has taken a rather sharp turn towards the negative, suggesting that traders are becoming increasingly optimistic—perhaps too optimistic, one might say.
Indeed, a high-stakes Ether (ETH) long trade is creating quite the stir, as the cryptocurrency breaks free from a key technical pattern, igniting fervent hopes of a 30% price rally towards the enchanting sum of $3,670.
$11M Leveraged ETH Long: A Sign of Bullish Sentiment?
On the tenth day of June, an Ethereum whale, in a fit of financial daring, opened a long position of $11.15 million on ETH, employing a leverage of 25 times—an audacious wager of 4,000 ETH at an entry price of $2,758.35. How very bold! 🦁
By the eleventh of June, the price of Ether had climbed to a commendable $2,850, buoyed by the delightful prospect that the Federal Reserve might soon cut interest rates, following the recent cooling of inflation data. A most fortuitous turn of events!
This rise in ETH’s price has propelled the whale’s position into a veritable treasure trove of profit. At present, the whale finds itself basking in an unrealized gain of approximately $366,600. How delightful it must be to swim in such riches! 💸
However, the position carries a liquidation price of $2,466, which, while offering a rather narrow margin for error, also underscores a commendable conviction in the anticipated upward movement.
Ethereum Options Data: Traders Are Short-Term Optimists
In the realm of Ethereum’s options market, a decisive optimism has emerged over the past 48 hours, as if the traders have collectively decided to don their rose-colored spectacles.
The 25-delta skew, which measures the disparity in pricing between bullish calls and bearish puts, has taken a rather sharp nosedive since the ninth of June. How curious!
The 1-week skew has plummeted from -2.4% to -7.0%, while the 1-month skew has also declined from -5.6% to -6.1%, according to the esteemed Glassnode data. Such a deepening negative skew reflects a rising demand for short-dated call options, suggesting that traders are increasingly positioning themselves for a near-term upside. How very clever of them!
Ethereum Bull Flag Breakout: A 30% Rally Awaits?
ETH’s price has surged more than 100% over the past two months, propelled primarily by Ethereum’s Pectra upgrade in early May and the restructuring of its core foundation in early June. A most impressive feat!
On the ninth of June, Ether broke above what appears to be a bull flag pattern, followed by a continued increase in both prices and volumes. How thrilling! 📈
This breakout, coupled with rising trading volume, indicates a strong conviction among traders that ETH’s price could indeed rally towards the bull flag target of approximately $3,670, representing a 30% increase from current levels by the end of June. How delightful it would be to witness such a spectacle!
Many analysts, including those from Standard Chartered, are further speculating on an ETH price move towards $4,000 in 2025. Some fractal analyses, with one intriguingly related to gold, even predict the cryptocurrency may reach the astonishing heights of $5,000-6,000 in the coming months. One can only hope! 🌟
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2025-06-11 19:32