Anti-CZ Whale Flips Bullish: Now Long $109M In Ethereum While Holding Massive Meme Shorts

The crypto market experienced a sharp downturn with Bitcoin and Ethereum falling below key price levels, triggering liquidations and bearish sentiment. Market panic led to traders reducing exposure and abandoning price targets as emotions overshadowed fundamentals. Despite the widespread fear, some large traders, like the Anti-CZ Whale, strategically shifted their positions. This whale, known for profiting from ASTER shorts, has now taken a significant long position in Ethereum. The whale's move suggests a belief that Ethereum's price drop is an overreaction rather than a fundamental decline. Ethereum is currently testing the $3,300 area, which is near its 200-day moving average, a critical support level. Technical indicators show a short-term bearish structure, with moving averages acting as overhead resistance. High trading volume suggests capitulation, potentially indicating a market bottom. Holding above the 200-day MA could lead to a relief rally, while breaking below $3,150 risks further downside. Sophisticated traders may be positioning for a rebound, indicating an opportunity amid market stress.