Recently, there has been an interesting move worth paying attention to. A whale address established a long position of 4,200 ETH at around $3,136 within a 10-minute window on January 13, totaling over $13 million in scale.

This operation used 25x leverage, meaning the key risk management point is at $3,025—once the price falls below this level, liquidation pressure will mount. From the data, this is not a small-scale attempt but a significant move involving real money.

Market monitoring data indicates this is a standard whale operation. The actions of such large holders often reflect their judgment of the market outlook. Using this scale and leverage ratio to position long at this time suggests a certain confidence in ETH's medium-term trend. However, high leverage also means high risk—the liquidation line at $3,025 is not far away.

The future direction depends on whether the market can support it.