Insider Whale Down $60 Million as Ethereum’s (ETH) Price Keeps Falling — Will He Capitulate?

A massive Ethereum whale is under severe pressure as ETH’s downtrend deepens.

With losses now exceeding $60 million, traders are watching closely to see whether this position becomes the next forced liquidation event.

As Ethereum slides toward a critical support zone near $2,100, the question is whether this whale will blink.

Insider Whale Loses $60 Million

An insider whale is losing money on a $600 million long ETH position, with an entry price of $3,167.

The same whale traded with massive size right before the Oct. 10 crash, opening massive shorts.

However, while he had roughly $120 million in profits, those have evaporated with his recent long.

🚨 BREAKING 🚨

Insider Bitcoin whale has added another $35.5 million to his $ETH long position.

He is now holding $578 million ETH long.

Insane conviction. pic.twitter.com/JJZVKuVbRr

— Max Crypto (@MaxCrypto) December 18, 2025

Down more than $60 million in ETH, the whale is also down roughly $8 million in combined Bitcoin and Solana longs.

As of the time of writing, the trader is down to less than $30 million in profits.

The liquidation price of this Ethereum long is at $2,132, so it remains to be seen if he will get liquidated.

What Analysts Are Saying?

Despite the massive price decrease, analysts on X remain positive about Ethereum’s future trend.

Max Crypto showed that Ethereum has reached its realized price for accumulation addresses, which previously led to trend reversals.

ETH looks much closer to a bottom than to a top now, he stated

Others remain firmly bearish.

XForceGlobal believes that another low is likely.

$ETH#Ethereum looking to finish this off this final wave Z of a larger triple WXYXZ.

Remember, your frustration is being taken advantage of from mega market makers, but with a little bit of patience, this is all opportunity in the long run as long as the trend is in tact. https://t.co/qSU5NhjJqb pic.twitter.com/TtGFBNOPxE

— XForceGlobal (@XForceGlobal) December 17, 2025

Income Sharks has a similar sentiment. He uses the OBV to show that the recent breakdown will lead to new lows.

With that in mind, let’s look at Ethereum’s technical analysis to determine if the whale is at risk of liquidation.

Why is Ethereum Going Down?

Ethereum’s technical analysis is decisively bearish.

The ETH price began a five-wave downward movement after the all-time high in August.

If the count is accurate, the ETH price has started the fifth and final wave in this decline.

Wave four was contained inside an ascending parallel channel.

Yesterday’s breakdown (red icon) confirms that the trend is bearish.

Alongside the price action, the breakdown triggered a bearish signal in the Moving Average Convergence/Divergence (MACD).

The indicator made a bearish cross (black circle) and broke down the support trend line.

Hence, the Ethereum price prediction is bearish. The next closest support is at $2,106, 25% below the current price.

If ETH reaches that level, the whale’s massive long position would be at serious risk of liquidation.

Forced Liquidation Incoming

Ethereum’s downtrend is  a high-stakes battle between price and leverage.

With an Ethereum whale already down $60 million and liquidation looming near $2,100, the next move could have outsized consequences for the broader market.

A forced liquidation could accelerate losses, while a sudden bounce might spare the position and spark a relief rally.

For now, all eyes are on whether his whale can withstand the pressure or become the catalyst for the next major move.

About the Author

Valdrin Tahiri

Valdrin Tahiri is a cryptocurrency analyst and reporter at CCN, specializing in technical analysis with a focus on Elliott Wave theory, on-chain metrics, and fundamental research. He brings over seven years of experience in the crypto space as both a trader and writer.

He discovered cryptocurrencies in 2017 while earning his MSc in Financial Markets at the Barcelona School of Economics, which sparked a deep interest in blockchain and market dynamics. Since then, he’s contributed to top crypto outlets like BeInCrypto and CoinGape.

Valdrin also served as Community Manager of BeInCrypto’s Telegram group for three years, helping grow it into one of the largest crypto communities worldwide. His expertise in market structure and price patterns allows him to break down complex trends into clear, actionable insights.

He’s published thousands of articles covering altcoins, Bitcoin cycles, and macro trends.

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