A whale closed its short positions in BTC and ETH at the lowest point before a rebound at 1 AM, then switched to buying ETH spot.

He basically closed out his short positions worth $62.8 million at the lowest point before the rebound: BTC averaged around $101,400, and ETH averaged around $2,224. These short positions earned him $3.07 million.

After closing the positions, he bought 6,037 ETH for $13.88 million, with an average price of $2,299. He now has a floating profit of $720,000.

This move of switching from short to long was the right bet; if it weren't for this switch, his short positions would have been underwater instead of the current profit of $3.79 million.

ETH purchase address👉：0x349d6bfb2e0577233359e3734b1d67ef5b37c9d4

Short position closing address👉：0x348bb306e6887d244450cbb9fd608e7f8d0a40b4