20x ETH Long Emerges as Ethereum Crashes 10%, Reversal Coming?

Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Read U.TODAY on Google News Ethereum price crashes Reversal coming? Advertisement Ethereum has crashed below $2,400, but a whale's contrarian approach is drawing attention in the market. Ethereum fell to a low of $2,245 on Saturday as selling intensified in the crypto market. As Ethereum fell in the market, Lookonchain revealed a whale opened a 20× long on 6,000 ETH worth $14.37 million. ETH has broken below $2,400! Someone just deposited 2.56M $USDC into #Hyperliquid and opened a 20× long on 6,000 $ETH ($14.37M). https://t.co/i3vvPeiZJ6?from=article-links pic.twitter.com/vXVb1zp8sR — Lookonchain (@lookonchain) January 31, 2026 The whale's approach refers to a contrarian strategy, obviously made in good faith that prices might soon rebound and comes as traders and investors capitulate across the market. Advertisement According to Lookonchain, Trend Research, which previously bought 651,310 ETH worth $1.56 billion, appears to be capitulating as it deposited 10,000 ETH worth $24.34 million into Binance. HOT Stories Shiba Inu Buyers Step In, Peter Brandt Reveals Bitcoin Price Rebound Target, Ripple Exec Confirms XRP as Priority — Top Weekly Crypto News Morning Crypto Report: XRP in -77% Breakdown Danger, Massive 100,000 ETH Binance Dump by Satoshi-Era Bitcoin Whale, Cardano's Forgotten +25% February Wins Leaked Email to Epstein Framed XRP Supporters as Enemy, Ex-Ripple CTO Says Ripple CTO Emeritus Breaks Silence on XRP and XLM in Epstein Files Ethereum price crashes Over $2.45 billion in crypto positions were liquidated in 24 hours, with the largest single liquidation being a $222.65 million ETH USD order on the Hyperliquid exchange. Ethereum led the sell-off in the market, with over $1.07 billion in positions wiped out in the last 24 hours as it fell more than 10%, followed by about $774 million in Bitcoin. Advertisement At press time, ETH was down 7.12% in the last 24 hours to $2,341 and down 20% weekly. You Might Also Like Sun, 02/01/2026 - 13:20 '7 Siblings' Whale Group Buying Ethereum (ETH): Is $2,400 Bottom? By Arman Shirinyan Losses increased following forced selling in the derivatives markets. Liquidations rose as Ethereum fell, compounding pressure on spot prices. Reversal coming? Liquidation data from CoinGlass shows the sell-off was one-sided, with long positions accounting for the majority of that seen in the last 24 hours. Long positions accounted for the majority of liquidations, coming in at $2.27 billion, with shorts accounting for only $180 million, suggesting bullish traders were caught unawares. The massive long liquidations coinciding with thin liquidity might suggest a reset following a leverage flush. RSI indicators are now at oversold levels, below 30, hinting at the possibility of a relief rally in the coming sessions. #Ethereum #Ethereum News #Ethereum Price Prediction