Matrixport Whale: Opens 500 BTC Long After $33.86M Loss

Matrixport-linked whale now sits $33.86M underwater on the 120000 ETH long worth $237M yet just funded a fresh account with 5M USDC to open a 20x long on 500 BTC worth $36.5M.

Price at $1974.62 tests the lower Bollinger Band support near $1992.43 while EMA50 at $2098.78 and EMA200 at $2200.59 cap any recovery, locking in the bearish structure confirmed by MACD death cross at -26.36; RSI at 24.09 signals oversold exhaustion that often precedes short-covering bounces before the next leg lower in this ETH price prediction setup. Persistent whale accumulation during the crypto market crash phase highlights leveraged conviction even as unrealized losses widen, a pattern that frequently amplifies downside volatility when support cracks.