Whales are making waves in the cryptocurrency seas once again, this time amid geopolitical tensions that have sent shockwaves through the financial world. With the U.S. striking Iran, a group of influential Ethereum holders, colloquially known as “whales,” have opened a staggering $100 million in leveraged positions, betting on Ether’s price rebound. This bold move comes even as some of the most astute traders remain skeptical, opting to short the market. As explored in our recent coverage of crypto market liquidations, these geopolitical events have led to significant market movements.
A High-Stakes Gamble
The timing of these leveraged bets raises eyebrows. As the conflict in the Middle East escalates, traditional markets often experience turbulence, and cryptocurrencies are no exception. Yet, these whales appear undeterred, perhaps viewing the current downturn as an opportunity rather than a threat. According to Simon Peters, a seasoned analyst at eToro, “The confidence of these whales suggests they may foresee a recovery in Ether’s price, potentially driven by broader adoption or future technological advancements.”
Ether, the second-largest cryptocurrency by market capitalization, has been riding a rollercoaster this year, with prices swaying unpredictably in response to global events. As of today, June 23, 2025, Ether’s price hovers around $2,500—down from its peak earlier in the year but still a far cry from the lows of previous bear markets. The whales’ actions seem to indicate a belief in Ether’s resilience and long-term potential.
Diverging Perspectives in the Market
Not everyone shares the whales’ optimism, however. Many traders, particularly those who pride themselves on a more cautious approach, remain net short. “There’s a lot of uncertainty in the air,” notes crypto strategist Lily Zhao. “With geopolitical tensions adding to the mix, it’s tough to predict which way the wind will blow.”
The divergent strategies between the whales and more conservative traders highlight a fundamental divide in the crypto community. On one hand, the whales’ bullish bets could be seen as a testament to their confidence in Ethereum’s fundamentals and the broader cryptocurrency ecosystem. On the other hand, the shorts reflect ongoing concerns about volatility and the potential for further market declines. This is further evidenced by the recent Bitcoin volatility liquidations, which underscore the market’s unpredictable nature.
Historical Context and Future Outlook
Ether’s current situation isn’t entirely unprecedented. Historically, the crypto market has shown resilience in the face of external pressures, bouncing back from significant dips following geopolitical upheavals. In 2020, for instance, Ether experienced a similar pattern amid the COVID-19 pandemic, eventually recovering and reaching new heights.
Looking ahead, the implications of the whales’ actions could be far-reaching. Should their bets pay off, it might reinforce the narrative of Ether as a robust asset capable of weathering storms—whether they be economic or geo-strategic. However, if the market continues its downward trend, it could underscore the inherent risks of leveraged trading and the unpredictable nature of crypto investments.
As the situation unfolds, market participants will be watching closely, weighing the potential for profit against the backdrop of global uncertainty. The crypto world, after all, is nothing if not dynamic, with fortunes often turning on a dime.
In this high-stakes environment, one question remains: will Ether’s price rebound, vindicating the whales’ bold gamble? Or will the skeptics, with their cautious shorts, have the last laugh? As always, in the world of cryptocurrencies, only time will tell.
Source
This article is based on: Ethereum whales open $100M of leveraged bets after US strikes Iran
Further Reading
Deepen your understanding with these related articles:
- The Probability of Iran Blocking Strait of Hormuz Surges to 52% On Polymarket After Trump’s Air Strikes on Iran’s Nuclear Facility
- Traders Brace For Impact As Over $4 Billion in Bitcoin and Ethereum Options Expire
- Whales And New Investors To Drive Ethereum Price’s Escape From Consolidation
Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
