Ethereum whales are making bold moves despite escalating geopolitical tensions. As Ether (ETH) plunged to a one-month low following U.S. airstrikes on Iran’s nuclear facilities, a high-stakes investor opened a leveraged $101 million long position at $2,247 with 25x leverage. The whale’s position, tracked by Hypurrscan, has generated over $900,000 in unrealized profit but cost over $2.5 million in funding fees. The bet faces liquidation if ETH drops below $2,196.

Just hours later, another whale pulled over $40 million in ETH from Binance, bringing their total holdings to $112 million. The timing has raised questions across the crypto space as the U.S. military action sparked global market jitters. President Donald Trump hailed the strikes as a "spectacular military success" and issued warnings of further action, increasing investor anxiety.

Market sentiment remains heavily bearish. According to HyperDash, 64% of top crypto traders are currently shorting Bitcoin and Ether, reflecting widespread doubt about near-term recovery. Nansen analyst Nicolai Sondergaard emphasized a “wait-and-see” mood dominating investor behavior amid mounting macro and military uncertainty.

Despite the chaos, one key metric suggests long-term confidence: the staked ETH supply has reached an all-time high of over 35 million. Binance Research reports that although a broader correction is possible, macro-driven price dips are still being seen as entry points rather than full reversals.