Ethereum Whale Who Called October 2025 Crash Opens $19.7M ETH Short Targeting $1,375

The Quick Take

• An Ethereum whale that successfully shorted the October 2025 crypto crash has opened a $19.7 million ETH short position, targeting a price drop to $1,375.
• If ETH reaches the $1,375 target, the whale's unrealized profit would reach approximately $2.39 million, according to CoinTelegraph analysis.
• The same whale's accurate October 2025 prediction lends credibility to the current bearish signal, though a failed short could trigger a significant short squeeze.

An Ethereum whale who accurately predicted and profited from the October 2025 cryptocurrency market crash has opened a new $19.7 million short position in ETH, targeting a price decline to $1,375, according to CoinTelegraph. The whale's track record from the October 2025 event — where they positioned short ahead of a significant market dislocation — gives this new position above-average credibility as a directional signal compared to anonymous short positions without demonstrated forecasting accuracy. CoinTelegraph analysis indicates that if Ethereum reaches the $1,375 price target, the whale's unrealized profit would reach approximately $2.39 million on the current position size.

The technical setup behind the $1,375 price target is significant. Technical analysis of Ethereum's price structure suggests that if current support levels fail, a move to $1,375 would represent the completion of a measured technical move that aligns with several historically significant support zones from prior market cycles. The whale's choice of this specific target implies they have identified a pattern in Ethereum's price structure consistent with their October 2025 framework. At the same time, a large short position of this size carries the risk of triggering a short squeeze if unexpected positive catalysts — such as an ETH spot ETF approval or a DeFi ecosystem revival — drive prices higher and force position liquidation.

The broader implication of this short position for crypto market participants is that it represents a well-capitalized bear bet from a trader with demonstrated market-timing accuracy. While no single whale position determines market direction, a $19.7 million ETH short provides a concrete data point for monitoring: if ETH rallies and the whale is forced to cover, the resulting short squeeze could produce a sharp upward price move that confounds the bearish thesis. Ethereum investors should monitor on-chain metrics including DeFi total value locked, Ethereum futures funding rates on major exchanges, and Layer 2 transaction volumes as indicators of fundamental demand that could support ETH price against the short pressure.

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