Despite rising geopolitical risks, major investors are confidently betting on the recovery of Ethereum by opening significant positions in the market.
Massive Investments in Ethereum
According to blockchain data from Hypurrscan, one prominent investor has opened a $101 million long position on Ethereum using 25x leverage at an entry price of $2,247. This position has so far generated nearly $900,000 in unrealized profits; however, the investor has already paid over $2.5 million in funding fees. The trade risks liquidation if Ether dips below $2,196.
Market Amid Global Conflicts
Hours later, a second large-scale investor made headlines by withdrawing over $40 million worth of ETH from Binance, bringing their total holdings to $112 million. These moves come in stark contrast to prevailing market sentiment, which has been weighed down by ongoing Middle Eastern conflict. Ether recently plunged to a one-month low of $2,113 following U.S. airstrikes on Iranian nuclear sites, amidst heightened tensions after Israel's strikes on Iran since June 13.
Shifts in Investor Sentiment
The majority of top-performing cryptocurrency traders appear to be adopting a bearish stance. Data from HyperDash indicates that 64% of elite traders on the Hyperliquid platform are currently shorting Bitcoin and Ether, while 36% maintain long positions. Binance Research also noted geopolitical risks as a key driver of recent price declines, while current macro-driven selloffs are largely viewed as buying opportunities rather than signs of a long-term trend reversal.
Despite ongoing instability and geopolitical risks, major investors demonstrate confidence in Ethereum's recovery by opening substantial positions in the market.
