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Ethereum, the second largest cryptocurrency by market capitalization, rose past the $2,000 mark on Saturday, pushing an Ethereum long worth $105,000 into profit.
Ethereum reversed a two-day drop and started rising from $1,895 on Feb. 12. The price rebound continued for two days into Saturday, with the ETH price reaching an intraday high of $2,090.
Ethereum's rise above $2,000 has lifted a long position into profits. According to Lookonchain, the Matrixport-linked whale who longed 105,000 ETH worth $215 million and was previously in losses has now become profitable again.
The whale, whose entry price was $2,048, saw losses of over $10 million as Ethereum fell to a low of $1,901.
The whale, possibly linked to Matrixport, opened a massive 105,000 $ETH long, according to a tweet by Lookonchain on Feb. 11.
Lookonchain identified wallets 0x6C85 and 0xa5B0, which both used Bridgers to move funds from Tron to Arbitrum and deposit into Hyperliquid. It is speculated that these may belong to the same whale. Together, these two wallets hold a 105,000 ETH long on Hyperliquid.
The ETH long position, which was previously in losses, has flipped into profits, reaching $1 million.
ETH price
At the time of writing, ETH was up 7.15% in the last 24 hours to $2,033 and 4.33% weekly.
The rebound follows the broader crypto market recovery as a lower-than-expected CPI reading helped boost the outlook for Federal Reserve interest rate cuts on the futures market.
The consumer price index for January rose 2.4% from the same time a year ago, down 0.3 percentage points from the prior month and the lowest since May 2025.
According to Ted Pillows, a crypto analyst, now that ETH has broken above the $2,000 level, it needs to reclaim the $2,100 level for a rally toward $2,300 to $2,400 zone. ETH/BTC has been struggling to break out of its eight-year downtrend for a long time now. Whenever this breakout happens, the crypto analyst believes ETH might pull off a move similar to silver.
U.Today Editorial Team
Dan Burgin
