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A recent whale’s massive Ethereum [ETH] long position of $12.6 million has ignited bullish sentiment among traders, sparking concerns about the possibility of a price surge in the near future.
According to reports, this notable whale placed a significant 5x ETH bet as Ethereum broke below the crucial $1,800 level on the charts. While this move may seem counterintuitive given the asset’s recent downturn, it has instead fueled speculation that the tide could be about to turn.
As the price continues to struggle, many are left wondering whether this whale’s bold bet is a harbinger of an impending rally or just a desperate attempt to prop up Ethereum’s flagging fortunes.
Source: https://ambcrypto.com/whales-12-6m-5x-eth-bet-sparks-bullish-momentum-is-a-rally-next/
