The Whale Who Can’t Stop Buying: BitcoinOG Scales Ethereum Long To $280M After Price Surge

Ethereum is trading with renewed spot aft breaking supra the $3,300 level and concisely pushing toward $3,400, signaling a imaginable displacement successful short-term momentum. However, contempt this recovery, bullish condemnation remains fragile. Many analysts proceed to pass that the broader inclination inactive leans bearish, emphasizing that Ethereum has yet to reclaim the structural levels needed to corroborate a macro reversal.

Yet 1 awesome has captured important attention: according to caller information from Lookonchain, a large whale known arsenic BitcoinOG has doubled down connected his Ethereum agelong position. This trader is wide recognized for being the whale who successfully shorted Bitcoin during the October 10 marketplace crash, a determination that earned him important profits and elevated his estimation crossed the on-chain investigation community.

Rather than taking profits aft ETH’s caller pump, helium has expanded his agelong exposure—an unusually assertive stance astatine a clip erstwhile astir traders stay cautious.

His renewed committedness raises questions astir whether smart money is softly positioning for a larger upside move, adjacent arsenic broader sentiment remains skeptical. If momentum holds, Ethereum whitethorn beryllium preparing for a acold much important determination than the marketplace presently expects.

Whale Positioning and FOMC Impact

According to Lookonchain, the whale known arsenic BitcoinOG has present expanded his position to 85,001 ETH, valued astatine astir $280 million, and is presently sitting connected much than $16 cardinal successful unrealized profit. Such an assertive accumulation during a play of wide caution signals a notable divergence betwixt retail sentiment and whale behavior.

BitcoinOG Ethereum Position | Source: Lookonchain

When a trader with a proven way grounds positions this heavy connected the agelong side, it often reflects a strategical condemnation that marketplace conditions could soon displacement successful favour of higher prices.

However, this positioning unfolds conscionable arsenic the marketplace approaches a pivotal macro event: the FOMC meeting. The Federal Reserve’s determination connected involvement rates tin dramatically power liquidity, hazard appetite, and short-term volatility crossed each hazard assets, including Ethereum.

A complaint chopped could inject optimism into the marketplace by weakening the US dollar and improving wide liquidity conditions. Conversely, a hawkish code oregon a smaller-than-expected argumentation accommodation could trigger a sell-the-news reaction, particularly with ETH nearing resistance.

For Ethereum, whale accumulation combined with macro uncertainty creates a high-stakes environment. If liquidity expands post-FOMC, ETH could summation momentum. If not, adjacent beardown whale positions whitethorn look short-term pressure.

ETH Testing Breakout Strength Ahead of Key Resistance

Ethereum’s 4-hour illustration shows a decisive displacement successful momentum, with ETH pushing firmly supra the $3,300 level aft a cleanable breakout from its multi-week downtrend. This determination marks 1 of the strongest bullish impulses since aboriginal November, supported by rising measurement and a wide reclaim of the 50 EMA and 100 EMA.

The 200 EMA (red), which antecedently acted arsenic dynamic absorption passim the decline, has present been tested and is opening to flatten—often an aboriginal denotation that bearish momentum is losing dominance.

ETH mounting a caller precocious | Source: ETHUSDT illustration connected TradingView

However, ETH is present hovering straight beneath a captious absorption portion astir $3,380–$3,420, a level wherever sellers antecedently stepped successful aggressively. The existent consolidation conscionable beneath this portion reveals an undecided market: bulls attempt to found acceptance supra $3,300, portion bears defend the adjacent absorption layer.

If buyers negociate to flip $3,320 into coagulated support, the way toward $3,500 becomes much achievable, particularly if broader marketplace sentiment improves. Conversely, a rejection from the $3,400 country could trigger a short-term pullback toward $3,200–$3,250, wherever moving averages are present stacked arsenic layered support.

Featured representation from ChatGPT, illustration from TradingView.com