Crypto Trader Opens $60.7 Million Ethereum Long Position Following Market Selloff
A prominent cryptocurrency trader with a history of profitable trades opened approximately $60.7 million in Ethereum (BITSTAMP:ETHUSD) long positions following a sharp market selloff. The buy-in occurred as leveraged traders suffered $688.56 million in liquidations across crypto markets in a single day. Ethereum currently trades at $2,510, up 2.69% today, while Bitcoin (BITSTAMP:BTCUSD) trades at $83,360, up 1.95%.
The substantial bullish position stands in contrast to recent trends in institutional investment products. Spot Ethereum exchange-traded funds in the United States have recorded ten consecutive days of net capital withdrawals totaling about $782.6 million since late September. The trader building the new position has accumulated $29.75 million in total profits across 15 closed trades over the past four months.
Investors are monitoring whether Ethereum can maintain momentum and clear overhead price levels. Market attention is also turning to macroeconomic indicators, with the upcoming September U.S. Consumer Price Index report set for release on Wednesday. Annual inflation is projected to rise to 3.7% from 3.4%, an outcome that could influence broader market liquidity and risk appetite across digital assets.
Key points
- A high-profile crypto trader opened roughly $60.7 million in long positions on Ethereum following heavy market selloffs.
- Leveraged positions across the cryptocurrency market faced $688.56 million in liquidations during a single-day drop.
- U.S. spot Ethereum ETFs experienced ten consecutive days of net outflows totaling about $782.6 million.
- Upcoming U.S. inflation data could impact digital asset prices, with annual CPI expected to increase to 3.7%.
Written by our AI from expert market sources across the web. It can contain mistakes: check the facts before acting on them. Write-ups powered by the free AI API at FreeTheAI.org
How we writeDisclaimerQuestions and answers
What is the latest major trade in Ethereum?
A major crypto trader opened approximately $60.7 million in Ethereum long positions following $688.56 million in crypto market liquidations, betting on a price rebound despite recent exchange-traded fund outflows.
How much money have US spot Ethereum ETFs lost recently?
U.S. spot Ethereum ETFs recorded ten consecutive days of net withdrawals totaling approximately $782.6 million since September 29, reversing previous inflows.
What economic data could affect Ethereum next?
The upcoming U.S. Consumer Price Index report for September is expected to show annual inflation rising to 3.7% from 3.4%, which could impact crypto market liquidity.