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One of the most closely watched, high-stakes wallets on the market has just strengthened a massive Ethereum long. The trader BitcoinOG (1011short) increased his already enormous long exposure by 12,406 ETH, bringing his total ETH holdings to approximately 203,341 ETH, or roughly $577.5 million. Additionally, he continues to own 250,000 SOL ($30 million) and 1,000 BTC ($87 million), both of which are leveraged.
Massive long opened
This wallet has dropped more than $70 million as of now. A few weeks prior, it had over $120 million in unrealized profit. The aggressiveness of the positioning is evident just from that swing. There is no hedge, one-sided exposure and heavy margin usage. This trader is fully committed to a market that has been losing ground and finding it difficult to recover structure.
What impact does this have on Ethereum?
First of all, this does not instantly make ETH more optimistic. Large positions influence markets when they are compelled to respond, not by simply existing. This position can serve as a temporary stabilizer as long as it remains solvent. Liquidation zones are known to market makers, and prices frequently move toward regions where big players either survive or are squeezed. That, in and of itself, may cause short-term bounces or slow the decline.
Secondly, this makes the liquidation gravity higher. Volatility will rise quickly if ETH keeps declining and gets close to this wallet's liquidation threshold. A forced unwinding of even a portion of an ETH position worth more than $500 million would not be subtle. In just a few minutes, it would spread throughout funding, order books and sentiment. That is the risk side, and it is quite real.
Third, a wider perception that ETH is nearer a local bottom than a breakdown point is reflected in this trade. This thesis is about stabilization rather than a moonshot. The timing is crucial: RSI is not yelling about overextension, momentum is weak but not collapsing, and Ethereum is already hovering close to possible demand zones. Survival is traders' top priority, followed by recovery.
Ethereum is currently in a situation where big money is either going to look extremely wise or face severe consequences. In any case, ETH will not remain silent for very long.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team