The same whale still holds sizable shorts in ASTER and memecoin-related assets, indicating a mixed stance with ongoing bets against speculative memes and sector moves even as ETH turns higher.

Technicals point to a short-term bearish setup with the 50-day and 100-day moving averages trending downward, risking a move toward $2,900 if $3,150 breaks, while reclaiming $3,500 could signal early bullish control.

The market is in a fear-driven capitulation phase, but notable participants are positioning for an ETH recovery, suggesting a potential shift from panic to a cautious rebound if liquidity stabilizes and key support holds.

Trader sentiment shows fear-driven selling at high volumes, yet the actions of the anti-CZ whale imply sophisticated players may be positioning for a rebound, underscoring ETH’s role as a core asset during stress.

Across Bitcoin and Ethereum, liquidation waves and fear-driven selling have amplified volatility, creating pockets of liquidity and tails that could influence near-term price action.

Ethereum recently broke down below the $3,100–$3,500 zone and paused near $3,300 by the 200-day moving average, indicating a crucial support area that could anchor a relief rally if held.

The Anti-CZ Whale pivoted from shorting ETH to a long position of about 32,802 ETH (roughly $109 million) as fear intensified, signaling growing upside conviction for ETH despite broader losses.