Ethereum Price Dip: '1011 Insider Whale's' $383M Leveraged ETH Long Faces $200K Unrealized Loss

On December 11, a significant market event unfolded as the '1011 Insider Whale,' a prominent Ethereum investor, saw their massive $383 million (120,094 ETH) 5x leveraged long position dip into an unrealized loss. Following Ethereum's (ETH) price fall below the $3,200 mark, this position, which had previously yielded $16.8 million in unrealized profits, now registers a $200,000 unrealized loss. Despite this reversal, the whale has reportedly continued to accumulate ETH, pushing their average entry price to $3,177.89. This development underscores the inherent volatility in cryptocurrency markets and the high-stakes nature of leveraged trading, even for major players, while also signaling potential long-term conviction.