$ETH Whale Cuts Loss, Immediately Doubles Down with $18.5M Long! 🐳

The derivatives market recently witnessed a bold move from a significant player involving Ethereum. This investor showed a strong determination to re-engage after a substantial initial loss.

Just 8 hours ago, this whale closed an Ethereum Long position, resulting in a loss of $547,071 USD. This painful cut was quickly followed by a strategic re-entry into the market.

To fund the new position, the whale deposited an additional $2.5 million. They then opened a new Long position on Ethereum, significantly increasing their exposure.

This new Long is valued at $18.5 million, utilizing 25x leverage. Such a high-leverage move immediately after a considerable loss is often dubbed "revenge trading" by traders, known for its extreme risk. ⚠️

Is this a confident bet on Ethereum finding a strong bottom and poised for a rebound? Or is it an impatient attempt to quickly recoup losses? The fate of this $18.5 million position now hinges on market volatility. 📉

News is for reference, not investment advice. Please read carefully before making a decision.