A large Ethereum holder—often referred to as a “whale”—has opened a new short position worth $19.7 million. The move follows the whale’s earlier bet against a crash that was expected to hit in October 2025.
Technical analysis of Ether’s price action suggests that the token could fall to around $1,375. The chart patterns and support levels point to this level as a potential target for a downward move.
If Ether does reach $1,375, the whale’s unrealized profit on the short position would rise to approximately $2.39 million. This figure reflects the difference between the current market price and the price at which the short was entered.