$ETH Whale Reopens $17M 8x Leveraged ETH Long Position After Yesterday $3.34M Loss

On 15/12 record a Revenge Trade from an ETH Whale following yesterday loss.

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🔸 Whale opened a new ETH Long position worth $17 million with the leverage 8x.

🔸 Just a day prior, this exact wallet address had to accept a painful stop loss on a 7x leveraged ETH Long position. The realized loss was recorded at $3.34 million.

🔸 Notably, the leverage was increased from 7x to 8x. This suggests the investor aims to recoup previous losses and profit faster, but simultaneously pushes liquidation risk to alarming levels.

🔸 Increasing leverage immediately after a massive loss is often a sign of Revenge Trading psychology. If ETH price continues a slight correction, this $17 million position will face extremely rapid liquidation risk.

In your experience, increasing leverage after a loss the fastest way to break even or the shortest path to blowing up your account?

News is for reference, not investment advice. Please read carefully before making a decision.