In the volatile world of cryptocurrency trading, high-stakes moves by major players often capture the attention of the market. According to Onchain Lens, the prominent whale known as "Anti-Cz" with the address "0x9ee" has once again entered the fray after a significant setback. This trader, who recently suffered a complete liquidation on their Ethereum (ETH) and Ripple (XRP) long positions, resulting in a staggering loss of $61.38 million, has boldly reopened an ETH long position using 15x leverage. This development, reported on February 4, 2026, highlights the relentless risk-taking that defines crypto trading whales and raises questions about market sentiment amid ongoing price fluctuations.

The Whale's Liquidation and Swift Return to ETH Trading

The "Anti-Cz" whale's recent liquidation erased not only their $61 million in profits but also pushed their overall position into a net loss exceeding $10.76 million, as detailed by Onchain Lens. This event underscores the perils of leveraged trading in the crypto space, where rapid price swings can wipe out even the most substantial portfolios. Despite this, the whale has re-entered the market with a new ETH long at 15x leverage, signaling strong conviction in an upcoming Ethereum price rally. Traders monitoring on-chain activity via tools like Hyperbot Network can track such moves in real-time, providing insights into potential market shifts. For instance, this position reopening comes at a time when ETH has been testing key support levels around $2,200 to $2,500 in recent sessions, with trading volumes spiking during volatile periods. On-chain metrics, such as increased transaction counts and wallet activity, suggest growing interest in ETH derivatives, which could amplify price movements if bullish momentum builds.

Analyzing Leverage Risks and Market Indicators for ETH

Leveraged positions like this 15x ETH long amplify both gains and losses, making them a double-edged sword in cryptocurrency trading strategies. Historical data shows that similar high-leverage bets by whales have preceded significant ETH price surges, but they also correlate with liquidation cascades during downturns. For example, in past market cycles, ETH trading volumes on major exchanges have surged by over 20% during whale accumulations, often leading to short-term resistance breaks. Current market indicators, including the Relative Strength Index (RSI) hovering near 55 on daily charts, indicate neutral to bullish momentum for ETH, potentially supporting the whale's optimistic stance. Traders should watch key resistance at $2,800, where a breakout could validate this long position, while a drop below $2,100 might trigger another liquidation event. On-chain analysis reveals elevated funding rates for ETH perpetual futures, pointing to sustained long interest despite recent volatility, which aligns with the whale's strategy.

Beyond ETH, the whale's prior involvement with XRP adds another layer to this narrative. XRP, known for its cross-border payment utility, saw correlated price action during the liquidation, with trading pairs like XRP/USDT experiencing heightened volumes. This event could influence broader altcoin sentiment, as whale activities often signal institutional flows into the crypto market. For retail traders, this serves as a cautionary tale: while emulating whale strategies might seem appealing, the use of high leverage demands robust risk management, including stop-loss orders and position sizing based on volatility indexes like the Crypto Fear and Greed Index, which recently dipped to 45, indicating fear but potential for reversal. Integrating such data, traders can identify opportunities in ETH spot markets or related pairs like ETH/BTC, where relative strength has improved by 5% over the last week.

Broader Implications for Crypto Trading and Market Sentiment

This whale's persistence in ETH longs despite massive losses reflects a broader trend in cryptocurrency markets, where conviction trading amid uncertainty drives liquidity. Market participants should consider how such moves impact overall sentiment, potentially leading to increased volatility in ETH trading volumes, which have averaged $15 billion daily across major platforms. On-chain metrics from sources like CoinMarketMan highlight that whale wallets similar to "0x9ee" control significant ETH supplies, influencing price discovery. For those exploring trading opportunities, focusing on ETH's correlation with Bitcoin (BTC) – currently at 0.85 – could reveal hedging strategies, such as shorting BTC if ETH underperforms. Ultimately, this story emphasizes the importance of monitoring on-chain lenses for real-time insights, helping traders navigate the high-risk, high-reward landscape of crypto investments. As ETH eyes potential all-time highs, savvy traders will balance optimism with data-driven caution to capitalize on emerging trends.