🚨Whale begins to gradually close order #short pair ETH/BTC
This whale owns 2 wallet addresses with a substantial asset, specifically:
Wallet 1: 7 hours ago, this wallet address withdrew 13,800 $ETH (~35 million USD) from Coinbase to the wallet and then repaid the ETH loan on AAVE V3. Currently, this wallet still owes 32,377 WETH (~82 million USD).
Wallet 2: 8 hours ago, this wallet address also withdrew 15,000 ETH (~39 million USD) from Coinbase to the wallet and made a repayment. This wallet still owes 13,784 WETH (~35 million USD).
🐳Since the beginning of February, the whale has shown bearish signs with ETH, continuously mortgaging $BTC into #AAVE , then borrowing ETH and transferring it to Coinbase. This can be interpreted as a short-selling behavior of the ETH/BTC pair.
Specifically, the behavior of this whale (Image)
It can be seen that wallet address #whale has very precise timing when shorting the ETH/BTC pair at high levels and #Repay around the bottom range, however, this whale is starting to be outplayed as ETH/BTC has increased quite strongly while it just began to repay back (at a loss).
However, this indicates that the whale is adjusting its strategy and may gradually close short orders of ETH/BTC as market conditions change. This action could be a medium to long-term bullish signal for ETH.
