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Bitcoin OG Expands Ethereum Long Position to $392.5M on Hyperliquid
Source: CryptoNewsNet Original Title: Bitcoin OG expands Ethereum long position to $392.5M on Hyperliquid Original Link: https://cryptonews.net/news/ethereum/32118512/ An early Bitcoin investor nicknamed “1011short” has expanded an Ethereum long position to 120,094 ETH, valued at $392.5 million, on Hyperliquid, according to data tracked by a leading data platform.
The position faces liquidation at $2,234 per ETH. The trader has been actively trading Ethereum in recent months and recently bet on renewed upward momentum.
Ethereum was trading at around $3,260 at press time, down from its daily high of $3,400, per market data. The decline extended following the Fed’s decision to lower interest rates by 25 basis points.
Analysts suggest, however, that the pullback may reflect a sell-the-news reaction, given that markets had widely anticipated the rate cut.