70% Ether positions are 'long' as whale accumulation tightens ETH supply

Whales have accumulated over $2 billion in Ether, as derivatives positioning skewed 70% net long with leverage at record highs. When will ETH price break out?

Ethereum (ETH) has experienced renewed accumulation from large whales over the past few days, despite the price being compressed under $3,000. However, recent onchain and futures data indicate growing pressure for a potential breakout. 

Key takeaways:

Large whales added over $2 billion worth of ETH in recent days despite muted price action.

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