After a relatively quiet start to the week, Ethereum slid in the early Tuesday session, falling to a low of $1,994. At the time of writing, Ethereum remains in red, down 1.28% in the last 24 hours to $2,010 and down 12.26% weekly.
Amid the Ethereum price drop, a brand new whale’s contrarian strategy is catching attention on the market.
In a recent tweet, Lookonchain reported that a newly created wallet deposited 12.88 million USDC into Hyperliquid to go long on ETH with 20x leverage. So far, he has opened a long of 16,270 ETH worth $33.38 million. This singular action is prompting speculation of the ETH trader being a “super bull.”
HOT Stories
Morning Crypto Report: $140,953,609 Bitcoin (BTC) Whale Breaks 2019 Silence, XRP Opens Rare 5% Setup Window, Sam Bankman-Fried Claims ‘FTX Was Never Bankrupt’
Ripple’s CTO Emeritus Defends XRP Genesis Against Centralization Claims
“Another ETH super bull is here. A newly created wallet, 0x6C85, deposited 12.88 million USDC into Hyperliquid to go long ETH with 20x leverage. So far, he has opened a long of 16,270 ETH($33.38 million),” Lookonchain reported.
All eyes on $2,000?
As the Ethereum price trades sideways in the last four days between $1,994 and $2,150, a crucial level has come into focus.
According to Ali Charts, all eyes are on $2,000 for Ethereum (ETH), with two potential scenarios presented, which is either a rebound or a breakdown.
If the Ethereum price decisively closes above $2,150, it may further climb to $2,447. This remains a crucial barrier, as a break above it suggests that the bearish momentum may be waning. The Ether price may then rise to the 50-day SMA at $2,877.
A loss of the $2,000 level might put Ethereum at risk of a breakdown. If this happens, Ethereum might target $1,750 and then $1,537.
Derivatives data indicate clear risk-off sentiment coupled with declining open interest and negative funding rates.
This week, markets are expecting a backlog of data delayed by the partial government shutdown, which might impact volatility. Among the key releases is the January nonfarm payrolls report, now scheduled for Wednesday after being postponed from last Friday. Attention will also turn to January consumer price data, due Friday. There will also be data on weekly initial jobless claims on Thursday.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
ETH 15-minute surge of 1.15%: ETF net inflows accelerate and large whale accumulation converges to drive the rally
2026-04-04 19:00 to 19:15 (UTC), the ETH price saw a significant spike. Within 15 minutes, the return rate recorded +1.15%. The price range was between 2055.26 and 2079.75 USDT, and the intraday amplitude reached 1.19%. Market attention increased markedly, with trading activity and on-chain large transfers expanding in tandem, triggering rapid fluctuations in the short-term price action.
The primary drivers behind this move are accelerated net inflows into ETFs and institutions concentrating their positioning in the spot market, which directly pushed the ETH price higher. The data show that BlackRock ETHB
GateNews1h ago
Ethereum's Vitalik Buterin Warns Against AI Agent Security Risks, Shares His Private LLM Stack
Ethereum co-founder Vitalik Buterin has moved entirely off cloud AI services and detailed his fully local, sandboxed artificial intelligence (AI) setup in a blog post published this week.
Key Takeaways:
Ethereum co-founder Vitalik Buterin abandoned cloud AI in April 2026, running Qwen3.5:35B loca
Coinpedia2h ago
Tom Lee's Bitmine Acquires 40,000 ETH Worth $82.07 Million
Gate News message, Tom Lee's Bitmine purchased an additional 40,000 ETH valued at $82.07 million from centralized exchanges today. The transaction marks another significant ETH accumulation by the firm.
GateNews6h ago
Ethereum Foundation stakes another $93 million ether, reaching its 70,000 ETH target
The Ethereum Foundation staked $93 million in ether, reaching nearly $143 million in total staked ETH, almost fulfilling its 70,000 ETH target. This shift to staking generates yield for funding operations without selling assets, although some ETH remains unstaked.
CoinDesk7h ago
Early ETH Accumulation Hints at Breakout—Can Momentum Hold?
Ethereum shows early accumulation, with most holders near breakeven and selling pressure easing.
Taker Buy/Sell Ratio rising indicates growing demand and selective buying across exchanges.
Sustained momentum above key levels could trigger a breakout toward higher price targets.
At press
CryptoNewsLand8h ago
$ETH Whale Pulls $82M From FalconX, Market Speculates Tom Lee Connection
An Ethereum whale withdrew $82M in ETH from FalconX, increasing their holdings to 40,000 ETH. The transaction pattern resembles Bitmine's, sparking speculation about Tom Lee's involvement. Traders are monitoring its market impact.
BlockChainReporter8h ago
