Whale address big move: opened a new 20x ETH long position worth $9 million, continuously placing $10 million buy orders

【BlockBeats】According to on-chain data monitoring, within the past hour on January 22, a whale address starting with 0x61c made a big move. This whale opened a 20x leveraged ETH long position, with the position size directly reaching $9 million, at an average price of $3005. Even more astonishing, it currently has 100 buy orders in the $2960 to $2980 range, totaling about $11 million, showing strong confidence in this price level.

Tracing back the operations of this address. Earlier, it deposited $5.106 million into an exchange, then opened a $36.27 million BTC long position, while also placing $36.87 million in ETH, SOL, and AVAX short positions. The long and short positions are roughly balanced, with the entire account reaching a total position size of $73.15 million. However, it’s worth noting that the ETH short position was closed at break-even at 14:00 today. The series of operations behind this are quite interesting, indicating that this whale has its own judgment on the current market.