Crypto Trader Stakes 544,977 ETH Worth $2.55B After Exiting Leveraged Positions As Price Slips 3%

A Bitcoin OG acquired 544,977 Ethereum worth $2.55B in six days and staked the entire amount.

Ethereum price trades around $4,428, down 3.83% in 24 hours, with selling pressure dominating recent gains.

RSI closed at 62.94, and MACD showed slowing momentum, with Ethereum consolidating between $4,311 and $4,820.

A longtime Bitcoin investor has intensified his Ethereum activity, closing leveraged positions before making a major spot purchase. Over the last week, the trader acquired 544,977 ETthereum valued at $2.55 billion, moving the entire amount into staking.

Leveraged Positions Closed and Spot Purchases Initiated

According to a post on X by Lookonchain, the investor exited 130,564 Ethereum long contracts at an average price of $4,692. That position generated $42.5 million in profit. The closing marked a significant step in reducing exposure to leverage while securing realized gains.

Immediately after, the investor bought 33,381 ETH on spot markets at a cost of $155 million. This transaction added to a sequence of purchases that built the multibillion-dollar stake in less than a week. Every unit of the newly acquired Ethereum was placed into staking. The move consolidated his holdings, securing yield while maintaining long-term exposure to Ethereum’s network activity.

Ethereum Current Market Action Revealed

Tracking the ongoing market trend at the time of press, CoinMarketCap data reveals that Ethereum trades at $4,428.56, showing a 3.83% decline over the past 24 hours. The price chart displayed strong movement early, with prices climbing near $4,586 before momentum reversed

Source: CoinMarketCap

Later in the day, Ethereum was on the decline, falling under the 4,500 mark and further. The sharpest drop was overnight but there was a precipitous fall in the price towards 4,400. Subsequently, the price suffered minor recoveries, yet it stayed under pressure below the previous highs. Market capitalization closed at around 534.55 billion with a 3.82 percent decline.

In the meantime, the daily trading volume amounted to $62.6 billion, which is an increase of 3.73% since the previous day. Ethereum spent the later hours at the $4,400 price point or trading sideways after the significant decline. The general session also exhibited high selling power, overriding recent gains, which were confirmed after hitting the ATH.

Ethereum Holds Key Range as RSI Nears 63 and MACD Shows Slowing Momentum

As indicated in a TradingView technical analysis of a one-day chart of the price of Ethereum, the token is holding above the 4,311 support level and is facing resistance levels around 4,820. The Relative Strength Index (RSI) value stood at 62.94 at that time, indicating high momentum that was not as yet in the overbought zone. It is the RSI that exhibits strongly higher lows in the past several sessions, which indicates sustained buying pressure following declines.

Source: TradingView (Ethereum/USD Chart)

The Moving Average Convergence Divergence (MACD) readings displayed the signal line at 213.46 and the MACD line at 240.42. The histogram remained slightly negative at -26.96, reflecting a narrowing spread between the lines. Earlier, the MACD crossed above the signal line, confirming upward momentum, though recent sessions showed reduced strength.

The overall technical structure displayed Ethereum consolidating within a defined zone between $4,311 and $4,820. Both RSI and MACD reflected sustained momentum while signaling moderation compared to previous peaks. Market activity remained positioned around this range, keeping Ethereum aligned with its broader bullish structure from earlier advances.