A well-known whale trader on the Hyperliquid perpetuals exchange is back in the spotlight after taking a massive long position in Ethereum (ETH), just weeks after making an extraordinary $200 million profit during the October 10 market crash. The anonymous mega-trader, who gained fame across crypto circles for perfectly timing one of the biggest short plays of the year, has now shifted gears — opening a staggering $44.5 million ETH long position that is capturing the attention of analysts and retail traders alike.
The shift from a high-risk short during a violent market crash to an aggressive long position signals a bold change in market sentiment from one of the industry’s sharpest players. According to on-chain and derivative tracking platforms, the whale appears to be positioning for a strong rebound in Ethereum, possibly anticipating upcoming catalysts such as network upgrades, increased institutional interest, rising staking demand, or a broader recovery in digital asset sentiment. This dramatic move suggests growing confidence in ETH’s medium-term price trajectory despite recent volatility and liquidity concerns.
The whale’s earlier $200 million gain came from leveraging extreme market fear during the October 10 event, when crypto saw one of its steepest intraday declines of the year. By accurately predicting the liquidation cascade and shorting at the right moment, the trader secured one of the most profitable trades in recent history. Now, the pivot to a $44.5 million ETH long is being closely watched as a potential bullish indicator, with many traders interpreting the whale’s actions as a signal of renewed optimism in Ethereum’s upside potential.
Hyperliquid, a rapidly growing decentralized perpetuals exchange, has itself been gaining traction thanks to its transparency, deep liquidity, and advanced trader analytics — features that have made it a popular platform for large-scale professional traders. High-profile moves like this only add to the platform’s reputation and highlight the growing influence of whales in shaping market sentiment.
As Ethereum prepares for future upgrades and increasing real-world adoption, the whale’s massive long position could reflect expectations of a significant price breakout. Whether this bold strategy results in another massive payoff or becomes a high-risk misstep will be something the entire crypto market watches closely in the coming weeks.
