An on-chain address pulled its previous buy orders early today and placed new bids for a combined 40,000 ETH between $2,280 and $2,437, according to Odaily. The lower and upper bounds of the range were raised by $30 and $46 from the earlier setup, taking the total value of the buy orders to $94.699 million.
The same address is also holding an ETH short position valued at $35.953 million. Its average entry price stands at $2,587.33, and the position is currently showing a profit of $1.003 million. Based on the current position size, if ETH falls to $2,391.8, partial execution of the buy orders would fully close the remaining short and flip the address into a net long position.
In addition, the address has placed 33 sell orders between $2,687 and $2,887, covering a total of 10,000 ETH worth $27.988 million. The setup shows both downside buy interest and higher-range sell liquidity from the same participant.
Early today, an on-chain address scrapped its earlier buy orders and put in new bids for a total of 40,000 ETH at prices from $2,280 to $2,437, Odaily reported.
That means both ends of the range moved higher versus the prior setup: the lower end by $30, the upper end by $46.
Using the quoted order values, those fresh bids come to $94.699 million altogether.
The address is also sitting on an ETH short position valued at $35.953 million, entered at an average price of $2,587.33. Right now, that trade is showing a $1.003 million profit.
At the current position size, if ETH drops to $2,391.8, part of those buy orders would be filled, fully closing the short position that remains and flipping the address into a net long stance.
And the same address has also set 33 sell orders from $2,687 to $2,887, for a total of 10,000 ETH valued at $27.988 million.
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