Ethereum whale profits from market crash with strategic buyback

Tuesday 09 June 2026 - 07:20

By: Dakir Madiha

Ethereum whale profits from market crash with strategic buyback

A long-term Ethereum investor executed a remarkably well-timed trading strategy by selling approximately $188 million worth of cryptocurrency holdings before a sharp market downturn and later rebuilding positions at significantly lower prices. Blockchain analytics firm Lookonchain described the move as a near-perfect example of selling at the top and buying back near the bottom.

According to on-chain data, the investor liquidated 60,000 ETH valued at roughly $117.25 million and 9,442 wrapped staked Ether worth about $24 million. Both transactions were completed at an average price close to $2,040 per ETH. The same wallet also sold 600 wrapped Bitcoin for around $47.12 million at an average price of $78,538 per coin, bringing total sales to nearly $188 million.

The transactions occurred shortly before one of the steepest cryptocurrency corrections of 2026. Ethereum lost more than 22% of its value over the following days and briefly fell to around $1,500 on June 6. The decline was fueled by liquidation cascades across leveraged positions and continued capital outflows from spot cryptocurrency exchange-traded funds.

After prices dropped, the investor began rebuilding positions. Reports indicate the whale purchased 611 WBTC at an average price of approximately $63,280 and later acquired about 35,723 ETH at an average price of $1,563. The Ethereum repurchase price was about 23% lower than the average selling price, allowing the investor to regain substantial exposure while preserving significant capital. Blockchain data also suggests the wallet still holds large stablecoin reserves, raising expectations that additional purchases may follow if market conditions remain favorable.

Another major trader has also attracted attention during the recent volatility. The wallet known as pension-usdt.eth extended its streak of profitable trades to 22 consecutive winning positions on the Hyperliquid platform. On June 7, the trader increased a short Ethereum position by 10,000 ETH, worth approximately $16.8 million, pushing total short exposure to 60,000 ETH, or about $101 million.

The trader previously closed all Bitcoin short positions on June 4 and secured profits of around $3.56 million before shifting entirely to bearish Ethereum trades. According to blockchain tracking services, cumulative profits generated by the address now exceed $45 million.

The broader market backdrop remains challenging for Ethereum. The cryptocurrency fell from above $2,000 in early June to nearly $1,500 within days as investors withdrew funds from spot Ethereum ETFs. Outflows exceeded $540 million during May and continued with another $168 million in early June. At the same time, Standard Chartered reduced its year-end Ethereum price target by 47%, lowering it from $7,500 to $4,000 and warning that a capitulation low near $1,400 remains possible.

Ethereum has since recovered modestly and is trading near $1,600. Exchange reserves have declined by roughly 475,000 ETH, a development some analysts interpret as a sign that selling pressure may be easing as investors move assets away from trading platforms.