Ethereum whale AguilaTrades has increased its short position to 20,000 ETH, equivalent to 83.74 million USD, while closing its long position to switch to a short position.
According to on-chain data, the new position was opened when the price of ETH was around 4,193.01 USD, giving this whale an unrealized profit of 34,000 USD from the short-term trade.
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Ethereum whale AguilaTrades increased its short position on ETH by 25 times to 20,000 ETH.
The price of ETH when opening the position was 4,193.01 USD, with a total position value of approximately 83.74 million USD.
This whale has closed its long position and fully switched to a short position, currently holding an unrealized profit of 34,000 USD.
How has Ethereum whale AguilaTrades increased its short position?
On-chain data from analyst Aunt Ai shows that AguilaTrades has increased its short position on Ethereum by 25 times, reaching 20,000 ETH, equivalent to 83.74 million USD. This is a strategic shift from holding a long position to a short position, reflecting a change in perspective on this cryptocurrency market.
The significant increase in short positions indicates that AguilaTrades expects the price of ETH to decline in the short term. This is a notable move as whales play an important role in influencing liquidity and price volatility in the Ethereum market.
What is the current price for opening new positions and realized profits?
ETH was shorted at a price of 4,193.01 USD during a volatile market period. According to reports, AguilaTrades has realized an unrealized profit of 34,000 USD from this position, demonstrating the effectiveness of the short-selling strategy in fluctuating price conditions.
The swift position changes of Ethereum whales can create significant pressure on ETH prices, especially during unclear market trends.
Cryptocurrency market analyst Aunt Ai, 10/8/2024
Additionally, closing long positions to focus on short selling also reflects a change in risk management strategy in the cryptocurrency derivatives market, allowing whales to maximize short-term volatility.
What does this deal mean for the cryptocurrency market?
AguilaTrades' actions reflect a cautious or negative outlook on Ethereum in the short term, which could affect investor sentiment and other traders. Whales often lead trends, so a significant increase in short positions may be a warning sign.
Detailed monitoring of whale positions helps investors better understand the dynamics and sentiment of the cryptocurrency market, enabling them to devise more suitable trading strategies.
Frequently Asked Questions
What is a short position in cryptocurrency trading?
A short position is a strategy betting that the asset's price will decline, helping investors profit when the market drops.
Who are Ethereum whales and why are they important?
Ethereum whales are individuals or organizations holding large amounts of ETH, which can significantly influence price and market trends.
How to track whale positions in the market?
Investors can use in-depth on-chain analysis tools to monitor trading activity and changes in whale positions.
What is unrealized profit when trading with a short position?
Unrealized profit is the current amount of money that has not yet been realized because the position is still open in the market.
Does increasing short positions negatively affect the Ethereum market?
This move could create downward pressure in the short term but depends on many other market factors.
Source: https://tintucbitcoin.com/eth-ca-voi-aguilatrades-lai-34-000-usd/
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