Ethereum Whale Would Lose $135M If ETH Price Crashed to $1,931: Will It Crash?

Ethereum (ETH) whale that supplied 65,675 ETH worth $135 million at the current price of $2,067 is at risk of liquidation. Based on the Lookonchain data, if ETH price slips 6.38% to $1,931.83, the whale would stand to lose the collateral. Will there be an extension of the recent crypto market crash and, therefore, Ethereum? Will the ETH whale lose $135 million?

Let’s explore Ethereum price predictions and more.

Ethereum Whales’ $135M Collateral At Liquidation Risk As Crypto Market Crashes

As Bitcoin (BTC) collapsed below $80,000 on Sunday, the crypto market also suffered a similar correction. Ethereum, as a result, dropped 8.31% on March 9. Lookonchain data’s tweet shows that the Ethereum whale that supplied 65,675 ETH is at a risk of liquidation if ETH price hits $1,931.83, roughly 6.38% from the current level of $2,067.

Will ETH price crash below $2,000?

The up and coming analyst CNO highlighted Ethereum’s spot orderbook data, suggesting that Ethereum (ETH) might dip “below $2,000.” The reason behind CNO’s idea is presence of limit orders below the $2,000 psychological level that are likely going to be tagged before ETH’s valule continues its uptrend.

Ethereum Price Analysis: What’s Next for ETH?

Considering the recent downtrend exhaustion and Bitcoin’s 1.86% recovery today, the chances of a further drop are unlikely today. The reason for this can be due to Bitcoin’s technicals, that forecast a potential recovery after liquidity sweep below March 4 swing low of $81,200. Moreover, Ethereum recently dipped below the $2,000 level, collecting the required liquidity to embark on an uptrend. 

Furthermore, the ETH/BTC chart shows an upitck ater weeks of down-only move, hinting at a potential bottom formation andthat Ethereum could be looking to make a comeback.

Sealing the potential reversal here and keeping the Etheruem whales’ $135M collateral is the recent accumulation from wallets holding 1M to 10M ETH. These investors bought 1.1M tokens worth roughly $2.40 billion at the current price levels. All of these signs suggest that a potential downtrend is unlikely.

While the Ethereum whale’s potential loss of $135.8 million is significant, the overall crypto market’s direction is influenced by various factors, including Bitcoin’s technicals and market sentiment. All of these factors suggest that a short-term reversal is more likely. Hence, the liquidation of $135M worth of ETH and an extended crash of Ethereum price is unlikely here, especially if Bitcoin continues to bounce from here.