Trader Opens $45.3 Million Leveraged Long on Ethereum Amid Institutional Outflows and Bottom Calls

Ethereum faces conflicting signals as high-conviction speculative buying clashes with institutional headwinds and weakening staking demand. Fundstrat's Tom Lee stated Ethereum is nearing a bottom around $2,000, aligning with a whale trader with a 10-trade winning streak opening a $45.3 million 25x leveraged long on 20,277 ETH. ETH recently dipped near $2,200 before rebounding to roughly $2,240, while enduring nearly $300 million in liquidations over 48 hours. However, spot Ethereum ETFs saw $270 million in net outflows early in November following $1.6 billion in October, and staking queues fell to approximately 1.04 million ETH.