An Ether (ETH $3,960) whale incurred a multi-million-dollar loss Thursday after the cryptocurrency fell below $4,000 for the first time since August 8, amid a broader market pullback tied to U.S. government shutdown concerns.
The whale, linked to address 0xa523, had a leveraged bullish position of 9,152 ETH ($36.4 million) forcibly liquidated on the decentralized exchange Hyperliquid, according to blockchain analytics firm Lookonchain. The forced liquidation pushed the whale’s total losses beyond $45 million, leaving a balance of under $500,000.
Ether touched a session low of $3,983 during Asian trading hours as other major cryptocurrencies, including Bitcoin (BTC $109,396), retreated amid heightened shutdown fears.
Data from Coinglass shows roughly $100 million in leveraged positions were liquidated during Asian trading, with over $90 million tied to bullish bets. The imbalance highlights how leverage in the market was predominantly tilted toward long positions, magnifying the impact of Ether’s decline.
About The Author
More Stories
Several bitcoin indicators continue to trend negatively, casting doubt on the bullish $70,000 support narrative
Another 500 bitcoin moved by Bhutan to exchanges, bringing total 2026 outflows above $150 million.
Circle’s recent decline may be overstated, with analysts pointing to a crypto bill that undercuts Coinbase’s edge.