Bitcoin Whale Reenters ETH Market, Fires Off A $44-M Long

A prominent crypto trader has made a bold move back into Ethereum, stirring attention across digital markets. Reports have disclosed that the account known as “1011short” converted 10 million USDC into Hyperliquid before opening a long position with a five-fold leverage, controlling around $44.15 million in ETH. Related Reading: Bitcoin Faces More Downside After Recent Crash, Data Shows Whale Opens A Massive Ethereum Bet The trade uses 15,000 ETH at an entry price of $2,945, while current market levels sit near $2,896. That puts the position about $38,000 in the red for now. Based on reports, the liquidation point is $2,326, giving the trader a sizable margin to withstand market swings. With leverage in play, profits and losses are both magnified, making the move high-risk but potentially high-reward. Market Momentum Shows Mixed Signals Bitcoin has bounced back to $89,000, gaining 1.37% in the last 24 hours, though it still remains over 20% below last month’s highs. Some altcoins follo