An Ethereum whale who previously profited from the October 2025 crash has opened a new $19.7 million short position on ETH. Technical analysis suggests Ethereum could drop to $1,375, which would bring the whale's unrealized profit to $2.39 million. The move signals continued bearish sentiment among large holders.
An Ethereum whale that successfully shorted the October 2025 crash has returned with a $19.7 million short position on ETH, according to on-chain data tracked by Cointelegraph. The whale's liquidation price is set well above current levels, indicating a strong conviction that ETH will decline further.
Technical analysis points to a potential drop to $1,375 for Ethereum, based on key support levels and chart patterns. If that target is reached, the whale's unrealized profit on the current short position would increase to $2.39 million. This comes after the same whale reportedly profited significantly from the October 2025 downturn, adding to its track record of bearish timing. The renewed short bet has drawn attention from traders monitoring large wallet movements as a sentiment indicator.
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