Noticed an interesting movement in the Ethereum market. It seems that major players are currently in a heightened activity mode — simultaneously opening both long and short positions. The market is clearly confused after the release of US macroeconomic data; the price has dropped again below $2k.

What’s interesting: one of the whales just deposited 2.18 million into Hyperliquid and opened a short on Ethereum with 10x leverage. This is definitely a bearish signal. Plus, liquidations of longs have exceeded $56 million, and the long/short ratio has fallen below 1 — participants are clearly betting on further decline.

But there’s another side to the story. I saw that one dormant whale woke up after a year and staked 8,200 ETH — that's $16.85 million. Such a move usually indicates that a large player believes in a recovery and is willing to wait. His position is in the red, but instead of selling, he’s going into staking — now that’s impressive.

Technically, Ethereum is currently oversold, and indicators show weak bullish momentum. The DMI indicates bearish control. Although there’s a forecast that there could be a rebound to 2186 before falling to 1.8k.

The current price is around 2.32k, but support at 2k is clearly not holding. It will be interesting to see if whales can turn the situation around with their actions or if this is just accumulation before an even bigger drop.