A whale who closed an ETH (7x) long position yesterday has attracted market attention after he opened a fresh 8x long position on the digital asset today, drawing curiosity on Ethereum’s price trajectory. Following the Ether price drop yesterday, on Sunday, December 14, 2025, the large investor closed his 7x leverage long position, a move that made him incur a loss of $3.34 million from his initial investment. Today, the trader sparked curiosity from crypto market participants following his decision to open a new ETH long position with 8x leverage, showing his firm belief in Ether’s looming price rebound.
Ethereum Whales Resume Accumulation
Today’s move by the crypto whale to expand its long position on ETH and increase leverage from 7x to 8x, currently worth $17 million, suggests that the recent market correction is likely coming to an end soon, and a market rally is near.
Ethereum price currently trades at $3,155.81, up 0.4% over the past 24 hours, but down 0.1% and 1.5% in the last week and month, respectively, a reflection of continuing bearishness in the broader crypto market. With his optimistic move, the whale appears to be guided by the latest institutional activity in the Ethereum market.
Multiple institutions are showing a preference for Ethereum, accumulating the tokens despite the recent price downturn. Data shared today by market analyst CryptoRank shows that whale addresses – wallets holding significant quantities of ETH – are not selling; instead, they are constantly buying more tokens.
Early today, a certain institution borrowed $85 million USDT from Aave, a decentralized lending protocol, and deposited the funds into the Binance exchange. He then withdrew 38,576.13 ETH from Binance worth $119 million, with an average withdrawal price of $3,093. This transaction activity clearly points out that, despite ongoing ETH price correction, sustained accumulations by big token holders continue as the current prices give them strategic discounts to enter the market and expand their investment holdings.
ETH Holds Bull Flag Structure
While current Ethereum price movements appear low-spirited, the asset is beginning to display bullish indicators. Over the past 10 days, since December 4, the ETH price has remained above $3,000 level, which is a stronger indicator of market strength than signs of price exhaustion.
This sideways movement is not an occasional activity, as Ether has been consolidating in a bull flag pattern. The formation of this bullish pattern suggests that the consolidation phase could be nearing its end as increasing buyers engage in purchasing activity and gain back market control. This pattern setup signals that the ETH asset is preparing for a potential 15% upturn in the coming days or weeks.
