Crypto Trader Turns Bearish on $ETH after Securing $150M Perps Profit
A renowned crypto trader has recently made a significant shift in strategy regarding Ethereum ($ETH). In this respect, the crypto trader, “BobbyBigSize,” has turned bearish on the leading altcoin, $ETH, amassing a staggering $150M in profit. As per the data from Arkham Intelligence, the trader has pocketed this profit from Ethereum perpetual futures since 2024’s end. However, the sudden shift in the trader’s decision has gained market-wide attention, raising speculation of a bearish conviction.
BobbyBigSize Shorts $ETH after Collecting $150M Gains
The trader “BobbyBigSize” has abruptly shifted his Ethereum ($ETH) strategy. In this respect, after collecting up to $150M since the end of 2024, the trader has likely turned bearish. This aggressive stance against the flagship altcoin has triggered the speculation of a likely development to take place in the market in the near term. Particularly, the trader is now holding a cumulative $70M in open crypto positions.
$45M in $ETH Shorts Indicate Notably Bearish Conviction
Specifically, a staggering $45M of this amount accounts for $ETH short. According to Arkham Intelligence, the balance history of the portfolio displays several sheer outflows and inflows, taking into account transactions involving 2xLiquidity (Proxy) and Binance, suggesting active management of liquidity. However, irrespective of the upward momentum, the conviction of the whale seems strongly bearish based on the leverage and size of short exposure. Overall, while $ETH keeps changing hands near crucial resistance levels, every trader is looking at whether the bold short move will result in a key market development.
You May Also Like
Gold rises on softer US Dollar, traders await Trump’s address on Iran war
Fed Hold in April Remains the Market Base Case
