Futures
Access hundreds of perpetual contracts
TradFi
Gold
One platform for global traditional assets
Options
Hot
Trade European-style vanilla options
Unified Account
Maximize your capital efficiency
Demo Trading
Introduction to Futures Trading
Learn the basics of futures trading
Futures Events
Join events to earn rewards
Demo Trading
Use virtual funds to practice risk-free trading
Launch
CandyDrop
Collect candies to earn airdrops
Launchpool
Quick staking, earn potential new tokens
HODLer Airdrop
Hold GT and get massive airdrops for free
Pre-IPOs
Unlock full access to global stock IPOs
Alpha Points
Trade on-chain assets and earn airdrops
Futures Points
Earn futures points and claim airdrop rewards
#大户持仓变化 Ethereum last night staged a thrilling bullish showdown. A major wallet executed extreme trades in just a few hours: first cutting 786 $ETH to stop loss, then rapidly increasing position to 3,900. This back-and-forth resulted in unrealized losses approaching $1.9 million—yet the large holder chose not to cut losses further, instead adding 1,250 more tokens as a supplement.
How great is the risk behind this move? The position is already nearing the $3,100 liquidation line; a drop below $3,042 could wipe out the entire position. The big holder’s capital deployment includes $2 million in spot hedging, combined with a $122 million 25x leveraged long position, making the overall position a market-level scale. If a liquidation is triggered, a chain reaction could impact the entire Ethereum futures market.
What exactly is this operation betting on?
Some see it as strategic—adding to positions against market panic, betting on a larger rebound. Others see it as a risk warning—a position of this size, with any extreme volatility, could trigger a stampede. The market is discussing a few possible scenarios: is it pre-positioning for a significant rally ahead, using this move to shake out and absorb orders, or simply leveraging to forcibly lower the average cost?
From a broader perspective, every move by large holders reflects their judgment of market direction. Recently, the Ethereum ecosystem has been shifting hotspots, and $BTC’s movements are also affecting overall sentiment. If this replenishment ends with a rebound, how many followers will regret not adding more at the same time? Conversely, if it triggers liquidations, how will the market absorb this shock?
The battle between bulls and bears has entered the most sensitive phase. What is your position plan?
Isn't this just betting on a market rebound? Either becoming a legend or a joke.
25x leverage hitting the liquidation line, I feel nervous for him. If it drops below 3042, it's game over.
I just want to ask, how does the market absorb a position of this size when it gets liquidated? Could even us small retail investors get caught in the trap?
Can't keep up with the pace of these big players; it's better to be honest and hold onto your assets.
Really, big players just use money to gamble on probabilities. We retail investors end up losing everything.
If his re-entry causes a rebound, how many people will regret it?
This move looks like a shakeout to absorb liquidity, and when the rebound happens, they'll probably dump again.
My plan is to lie low and watch the big players hurt each other.
---
If 3042 triggers a liquidation, the entire market will shake. Who dares to buy the dip?
---
Is this called a pattern? I think it's just gambler mentality—the highest level of cost spreading.
---
Waiting to watch the show. If it rebounds, that's a divine move; if it blows up, it's a negative lesson.
---
25 times of 12.2 million? Just thinking about it makes my legs weak. How much psychological resilience does that require?
---
Washed out the accumulation phase, still no tricks left. Anyway, I’ve run away. No more touching such big mines.
---
Who can withstand the chain reaction of liquidation of such a position size? Market liquidity will evaporate instantly.
---
Feeling a bit anxious but still want to follow. This mindset almost got me cut to the bone.
---
Adding to the position against the trend—win, and you're a genius; lose, and you're a lunatic. No gray area in between.
---
Spot hedging with 2 million USD leverage—this move is betting that BTC won't crash the market, right?
Watching it, I feel nervous for him. Just waiting to see a rebound or a liquidation disaster.
With such high leverage, it's really playing with fire. One wick and it's all gone.
I'm just quietly observing. Movements of this level of position are too intense.
Follow-the-market traders all have a leek mentality. I advise everyone not to imitate.
You must be very confident in the rebound to go all in like this... But risking a floating loss of 1.9 million and still adding positions shows a truly strong mindset.
I don't understand 25x leverage; it feels like gambling with your life.
If you ask me, if this wave blows up, the entire market will follow as casualties. It might even trigger another big plunge.
Just waiting to see what happens next—either a legendary turnaround or a bloody massacre.
The liquidation line is so close, he's really playing with fire—just one bearish candle away.
Is he betting on a rebound or a shakeout? Who knows. Anyway, I wouldn't dare to take such a position.
Let's wait and see the liquidation drama. If this size blows up, Ethereum futures will have to tremble.
Damn, this operation looks really exciting. 25x leverage is truly crazy.
Major players are betting on a rebound, retail traders are betting on major players getting liquidated—that's all there is to it.
If I had that courage, I would have already become rich. Sadly, I don't have that fate.
It's a gambling mentality, 3042 is wiped out, I can't eat when I see this price
If this wave blows up and liquidates, even the entire futures market will be buried, retail investors, stay safe