These three sets of round-number trades on Hyperliquid ETH are starting to look more and more like the execution fingerprint of the same whale! First set, 02:45–03:05: The whale placed 10 consecutive buy orders, each for 1,000 ETH, totaling 10,000 ETH. The total value was $19.3438M, with an average price of $1,937.1. The price then surged to $1,954.7 but failed to hold. Second set, 06:10–06:25: Five sell orders appeared, each for exactly 2,000 ETH, totaling another 10,000 ETH sold at an average price of $1,935.2. At the same time, open interest dropped, indicating the long positions were closed. 10×1,000 ETH long positions were opened, then fully closed with 5×2,000 ETH sell orders. The quantities matched perfectly, with an average price difference of just $1.9. If we assume this was the same whale, the position resulted in a loss of about $19K (excluding fees), but they avoided the subsequent drop in ETH from $1,935 to $1,865. Now, the third signal has appeared. From 16:10–16:40, on Hyperliquid ETH/USDC perpetuals, six buy orders of 1,000 ETH each appeared again: totaling 6,000 ETH, with an average buy price of $1,883.5, worth $11.3029M. The same 1,000 ETH order size has reappeared, further suggesting that "the same whale is re-entering the market." However, this time the position is only 60% of the previous round, indicating that even if it’s the same whale, their trading strategy has changed: the first attempt near $1,937 seemed aimed at breaking out, while this time it looks more like a smaller position trying to test the waters after the crash, rather than a heavy bet on a reversal. What really needs attention is the price reaction. Even with over $10M in net aggressive buying, ETH is still hovering in the $1,875–$1,888 range, without any significant upward expansion. This suggests that while buying pressure is entering, there’s also passive selling pressure absorbing it. From here, there are only two outcomes to watch for: - ETH breaks above $1,880–$1,890, accompanied by continued growth in open interest, signaling that these new long positions are gaining price confirmation; - ETH breaks below $1,875, turning these 6,000 ETH long positions into trapped positions. Considering the whale’s previous quick exit strategy, the $1,865 low could be tested again.