- A crypto whale placed a $101M long bet on ETH as the U.S. struck Iranian nuclear sites.
- ETH dropped to $2,113 and then climbed to $2,245 while traders remained divided.
- Ethereum faces pressure as 64% of top traders are shorting BTC and ETH amid rising tensions.
Following U.S. airstrikes on Iranian nuclear facilities at Fordow, Natanz, and Esfahan, Ethereum whales launched aggressive leveraged trades totaling over $100 million. On-chain data shows the opening of a $101 million ETH long using 25x leverage. The action intensified market volatility and signaled a rise in speculative momentum, despite broader geopolitical risks and reduced investor confidence.
Blockchain records confirm that the move originated from wallet address 0x916Ea2A9…AC54eD32, which had deposited 4,281,679.08 USDC from Arbitrum. Funds were transferred at a perfect 1:1 ratio, indicating precision and zero slippage. The wallet’s balance, totaling $4,544,004.56, was allocated exclusively to ETH-USD perpetual contracts. The wallet showed no spot, vault, or staked funds and signaled full exposure to the leveraged position.
Massive Whale Bets Raise Questions Amid Escalating Tensions
The U.S. strike, labeled a “spectacular military success” by President Donald Trump, came amid ongoing tensions between Israel and Iran. According to Reuters, Trump warned of more strikes unless Iran accepted peace. CoinMarketCap reported that Ethereum briefly touched a monthly low of $2,113 on Sunday.
Since Israel began “Operation Rising Lion” on June 13, the two nations have exchanged missile fire. The ongoing conflict has been Israel’s most aggressive attack since the Iran-Iraq War in the 1980s.
Despite these developments, some investors continued to increase exposure. Hours after the $101M long was placed, another whale withdrew $40 million worth of ETH from Binance, bringing total ETH holdings to $112 million, according to Onchain Lens.
The first whale reportedly generated over $900,000 in unrealized profit while paying over $2.5 million in funding fees. The entire leveraged position stands at risk of liquidation if ETH falls below $2,196, highlighting the narrow margin of error for high-leverage trades.
Related: Ethereum Drops Even After $15M Whale Move and Rate Spike
ETH Price Drops Despite Strong Volume and Whale Activity
Ethereum is currently trading at $2,245.42, marking a 1.36% decrease in the past 24 hours. The price had slipped from $2,260.7, briefly dropped near $2,115, then staged a partial rebound. CoinMarketCap data confirms the market cap now stands at $271.06 billion.
Daily trading volume surged 8.11% to $24.81 billion, showing increased participation despite falling prices. ETH’s circulating and total supply remain unchanged at 120.71 million, while max supply remains uncapped. The volume-to-market capitalization ratio is currently 9.22% and reflects healthy liquidity and ongoing market engagement.
Analysts in the market hold different views on the current price state of the Ethereum token. Still, volatility continues. According to Binance Research, price action is closely tied to current global events. The firm noted, “Whether the familiar ‘panic-then-recover’ pattern re-emerges will hinge on how quickly the geopolitical narrative cools.”
Meanwhile, data from HyperDash shows that 64% of top Hyperliquid traders are now shorting BTC and ETH, while 36% remain long. Could Ethereum withstand such heightened geopolitical pressure, or will leveraged whale bets fuel a chain reaction in the crypto market?
