This whale closed out $15 million worth of long positions at breakeven before the CPI release. Could the CPI tonight be a bombshell?
The whale with address starting 0x4ff9 completely liquidated about 6,000 ETH long positions (approximately $14.98 million) in the past hour, exiting near breakeven and clearing the entire account.
With the CPI data about to be released, this whale is closing positions near breakeven, showing a lack of confidence in the upcoming market rally?
Currently, $ETH is oscillating narrowly between 2485-2510, with the price basically hugging the 2500 whole number level.
The short-term structure is weak, price is below multiple short-term moving averages, RSI is neutral to weak, and volume has not increased, overall in a compressed state before the data.
Support levels:
First support: 2470-2485 (near intraday lows, losing this would weaken the short-term structure)
Key support: 2450-2430 (previous low concentration area, a decisive break could accelerate downside)
Stronger support: 2400-2410 (recent rebound starting point, breaking this would turn short-term bearish)
Resistance is seen at 2520-2530, then further up at 2550-2560.
The whale choosing to close at breakeven before CPI is more about avoiding data uncertainty rather than confirming a direction.
After the data release, the focus is on whether 2470 can hold and if funds re-enter the market. What’s your take on tonight’s volatility? #SeptemberCPI announced tonight, Fed rate hike divergence awaits resolution
Disclaimer: OKX Orbit content is provided for informational purposes only. Learn more
