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Whale sentiment shifts: PEPE long positions cut, heavy holdings in Ethereum
【BitPush】According to on-chain monitoring data, the largest long position previously betting on PEPE has already exited. This major trader closed their PEPE long position, realizing a loss of $314,500, but they seem to have shifted to a new strategy.
The current positioning is quite interesting — they are using 4x leverage to establish a long position on ETH, totaling 5,618.97 ETH, with a position value of approximately $17.75 million. The average entry price is around $3,097.29.
Since entering, this position has already gained a floating profit of $330,000. This shift is quite deliberate: moving from exiting PEPE at a loss to a large ETH position reflects, to some extent, different market views on the two assets. Especially with leverage on this ETH long, it is likely to attract close market attention.