Ethereum Slips Below $3,200 as 5x Leveraged Insider Whale Accumulates 120,094 ETH at a $3,177.89 Cost Basis

COINOTAG News, citing Hyperinsight, reports that Ethereum traded beneath the sub-$3,200 threshold on December 11, as the so‑called ‘1011 Insider Whale’ operating with 5x leverage opened a long of 120,094 ETH valued at about $3.83 billion. The position sits roughly $200,000 in the red after a prior peak of $16.8 million in floating profit. Since then, the trader has continued to add to the stake to lift the average entry price, establishing a cost basis of $3,177.89 per ETH.