Anti-CZ Whale Loses Big: $61M in Profit Wiped Out As Ethereum and XRP Longs Collapse

Overview

Recent developments in the cryptocurrency market have led to significant losses for a prominent trader known as the Anti-CZ Whale, particularly in Ethereum and XRP positions. As Ethereum breaks below crucial support levels, market sentiment is deteriorating, raising concerns about the potential onset of a new bear market.

Market Developments

Ethereum has officially fallen below key support levels, contributing to a broader decline across major cryptocurrencies. Analysts are increasingly suggesting that the market may be entering a new bear phase as both Bitcoin and leading altcoins have lost critical technical zones that previously supported their price structures. Ethereum is now trading at multi-month lows, experiencing cascading liquidations and strong sell-side volume, which has led to a significant drop in investor confidence.

In a notable development, Lookonchain reported that the Anti-CZ Whale, a well-known market participant, has seen over $61 million in profit wiped out within a span of ten days. This trader garnered attention for taking aggressive short positions right after a notable purchase by another market figure. However, the recent downturn in the market has reversed his fortunes, particularly affecting his large positions in Ethereum and XRP.

According to Lookonchain, the Anti-CZ Whale had previously accumulated nearly $100 million in total profit on Hyperliquid, primarily through aggressive trading during volatile periods. However, the sharp correction in the crypto market led to a drastic reduction in his profits, which have now fallen to approximately $38.4 million, marking a loss of more than 60% in less than two weeks. This situation illustrates the broader challenges facing Ethereum, as even experienced traders are finding it difficult to navigate the current volatility.

The pressure on Ethereum is palpable, as the cryptocurrency must maintain its current support levels to avoid further losses. The implications of this downturn extend beyond individual traders, signaling a potential wave of forced selling that could exacerbate market conditions.

Technical Analysis of Ethereum

Ethereum is currently testing a critical support zone on the weekly timeframe, with prices retreating sharply toward the $2,680 region. This level is now viewed as a crucial point of support that, if broken, could lead to a deeper market decline. The price action has demonstrated a significant rejection from higher levels earlier in the quarter, with a series of lower highs and lower lows indicating a medium-term downtrend.

The 50-week moving average has been decisively lost, and Ethereum now sits on the 100-week moving average, a historical pivot point during significant market corrections. The recent increase in trading volume during this drop underscores a market driven by fear and forced selling, rather than strategic profit-taking. The overall market environment remains characterized by thin liquidity and high volatility.

Should Ethereum break below the $2,650 mark, it could lead to a retest of the $2,300–$2,400 zone, which has previously served as a strong accumulation area. However, it is worth noting that the weekly chart indicates Ethereum is entering a historically oversold territory, reminiscent of previous periods where reversals occurred after extended compressions.

Impact on the crypto market

• The significant losses experienced by the Anti-CZ Whale reflect the broader volatility affecting Ethereum and the cryptocurrency market overall.
• The decline in Ethereum’s price may lead to increased forced selling, further pressuring the market.
• The breakdown below key support levels could signal the potential onset of a new bear market, affecting investor sentiment and trading strategies.
• The current trading environment is characterized by fear and uncertainty, complicating the market dynamics for both retail and institutional investors.
• The technical analysis suggests that Ethereum’s ability to hold above critical support levels is vital for any potential recovery in the market.

Updated: 11/22/2025, 3:07:37 AM