Ethereum Surges to $3,200 as Whales Make Massive ETH Purchases

Jakarta, Pintu News – After the Fed announced the interest rate cut, a number of large whale wallets started pouring funds into long positions on Ethereum (ETH). This move shows a strong belief in the upside potential of ETH prices, but on the other hand, it also increases the overall risk.

Several factors suggest that these long positions could potentially be liquidated in the near future if not accompanied by effective risk management. Then, how will Ethereum price move today?

Ethereum Price Rises 1.81% in 24 Hours

On December 12, 2025, Ethereum was trading at approximately $3,247, or around IDR 54,207,760 — marking a 1.81% increase over the past 24 hours. During this period, ETH reached a low of IDR 52,852,725 and a high of IDR 54,648,926.

At the time of writing, Ethereum’s market capitalization is estimated at IDR 6,549 trillion, while its daily trading volume has dropped by 24% to IDR 459.3 trillion over the past 24 hours.

Read also: Bitcoin Surges to $92,000 as Traders Eye Buy-the-Dip Opportunities

How confident are Whale in their long Ethereum position?

The behavior of whales gives a clear picture of the current market sentiment.

On-chain tracker account Lookonchain reports that a well-known whale known as “Bitcoin OG” recently enlarged his long position on the Hyperliquid platform to reach 120,094 ETH. The liquidation price for this position stands at $2,234.

Currently, the position has a daily loss(PnL) of over $13.5 million in the last 24 hours.

Meanwhile, another popular trader, Machi Big Brother, maintains a long position worth 6,000 ETH with a liquidation price of $3,152.

In addition, on-chain data platform Arkham revealed that a Chinese whale, who previously correctly predicted the market crash on October 10, now holds a $300 million ETH long position in Hyperliquid.

The whales’ activity in opening long ETH positions reflects their expectation of a price increase in the near future. However, behind the optimism, there are major risks stemming from Ethereum’s current high level of leverage.

ETH Leverage Reaches Dangerous Levels

Data from CryptoQuant shows that the leverage ratio of Ethereum (ETH) estimates on Binance has reached 0.579 – the highest level in history. This figure reflects the very aggressive use of leverage, where even small price movements can trigger a domino effect.

Read also: Analysts Predict Ethereum is Ready to Surge: Strong Signals and Bullish Catalysts Begin to Align

“A leverage ratio this high means that the volume of open contracts financed with leverage is growing faster than the volume of real assets on the platform. Under these conditions, the market becomes much more vulnerable to sudden price movements, as traders are more easily exposed to liquidation – both during uptrends and downtrends,” Arab Chain analysts explained.

Historical data shows that leverage peaks like this usually coincide with periods of extreme price pressure, and are often a sign of alocal top.

Spot Market Weakness Adds Greater Risk

The spot market is also showing clear signs of weakness. Crypto market watcher Wu Blockchain reported that spot trading volumes on major exchanges decreased by 28% in November 2025 compared to October.

Another report from BeInCrypto revealed that stablecoin inflows to exchanges have plummeted by 50%, from $158 billion in August to just $78 billion currently.

The combination of weak spot market buying power, high leverage, and shrinking stablecoin reserves has limited ETH’s ability to recover. This could put whale long positions at a very high risk of liquidation.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• BeInCrypto. Why Whale Ethereum Long Positions Could Face Liquidation. Accessed on December 12, 2025